The Volokh Conspiracy
Mostly law professors | Sometimes contrarian | Often libertarian | Always independent
The United States Olympic Committee recently ended Boston's bid to host the 2024 summer Olympics after Boston Mayor Marty Walsh refused to "commit today to an agreement that puts Boston on the hook for budgetary shortfalls." This was a wise decision by the mayor. Public funding for previous olympics and world cups has often led to major financial losses for host cities, as well as inflicting other types of economic damage. Economists across the political spectrum recognize that public subsidies for sport stadiums generally damage local economies more than they benefit them.
As a longtime sports fan, I very much enjoy watching the games. But they should not be subsidized with public funds, and should not forcibly displace people to build facilities.