SPONSORED BY:

MONEY CULTURE

Daniel Gross

Can China Rule the Olympics?

Why economists think it can dominate the games

Label

Newsweek Top Stories
Visions of a Decade
Visions of a Decade

From 2000-2009, one photo per month.

The Failure of Copenhagen
The Failure of Copenhagen

Why there could be a silver lining in a failed climate treaty.

Sex Scandals of the 2000s
Sex Scandals of the 2000s

From John Edwards to Mark Sanford, the decade's memorable affairs.

118 Days in Hell
118 Days in Hell

A NEWSWEEK journalist recounts his captivity in Iran.

Discuss

Sponsored by

Member Comments

  • Posted By: skindel @ 08/11/2008 8:40:16 AM

    The problem with academic economists is that they tend to see the world through a production/consumption lens. So, just as it is "wrong" for the US, with just 5% of the world's population, to consume 25% of the world's resources, it is also somehow "wrong" for the US to consume almost 30% of the medals with its tiny population relative to the world. This leads them to believe in redistribution based, as you say, on factors that have no bearing on performance, one of which, individual desire, counts for the most.
    Steve Kindel

  • Posted By: DanNJ66 @ 08/10/2008 2:37:24 PM

    That might be the most ridiculous model for predicting the number of medals to be won in the Olympics that I could possibly imagine. The economic rise of a nation will directly translate into athletic prowess? Nonesense. If that were true, then where is India in the Olympics? China and Russia produced fantastic athletes even when they were both dirt-poor.

    This kind of analysis is the same useless pablum that PwC brings to the Fortune 500. They get paid enormous sums of money to either repeat the obvious on behalf of corporate management, or come up with starry-eyed, ridculous schemes that make no sense and can never be implemented, but feed their consulting coffers.

  • Posted By: DrZhivago68 @ 08/10/2008 7:54:36 AM

    There is an old military expression: "Stay in your lane."

    I am as liable to take heed of the sports commentary and insights of some doughy, pencil-pushing number-cruncher, (setting amazing infallible computer models to one side), as I am to solicit the investment advice of the star QB of the local high school or to inquire of George W. Bush his opinion of the better guitar player: Jimi Hendrix or Alex Lifeson.

    Seriously, do these dorks not have something better to do with their 'knowledge' of the dismal science?

Reply

Report Abuse

Enter comments if any for reporting abuse

My Take

Customize the NEWSWEEK homepage
to feature your favorite columnists.

Customize Now
 
The Greediest People of All Time
From Bernard Madoff to AIG, Wall Street has reinvented excess. But the Masters of the Universe didn't invent greed. A look at the despots, robber barons and others who made our shortlist.