In case you were wondering where one of the most well known academic geographers gets his information, this is what David Harvey had to say at the opening of the Urban Social Forum in Rio de Janeiro today:
"...the only profit made off of any Olympic Games was Los Angeles, and in many instances cities and governments take a huge loss. I think it is no accident that Greece is now close to defaulting, is seriously in debt and has serious financial problems in part because of all of the money they had to borrow and had to utilize to get the Olympic Games which produced empty places which nobody knows now what to do with."
You heard it here first. This is not the whole of the story however. The real thrust of Harvey's argument, which is also something that I have drawn attention to in other posts, is that capitalist expansion requires ever growing markets, ideally somewhere around 3% annual growth. When the opportunities for physical expansion contract, or the imbalance of wealth prevents the majority from entering the market, ficticious markets emerge, and when those markets collapse, crisis ensues: USA junk bonds 1987, Japan 1990, Mexico 1995, Thailand 1997, South Asian Tigers late 1990s, dot com bust 2001, USA real-estate crash 2007, etc. Now, Harvey suggested, the emerging fictions of carbon trading are finding their spatial and market equivalents in the production of hollow spectacles like the Olympics and World Cup. These events are ideal from the perspective of capital accumulation in that they are in continual motion, needing to be in a constant state of production, consumption, and decline, and offer a spectacle that once consumed is placed into the dustbin of history. They also create some handy bubbles, like rampant real-estate speculation, that allow some economies to sustain higher than 3% growth while others lag behind. Natrually, this growth is unequal both spatially and socially throughout the city, and we can read within the Olympic Map, where these gross inequalities and fictious markets are going to take physical form.
2014 World Cup Rio de Janeiro Maracanã FIFA 2016 Olympics 2016 Summer Olympics Eduardo Paes CBF Copa do Mundo 2014 Rio de Janeiro Olympics Ricardo Texeira World Cup 2014 Vasco da Gama 2010 World Cup White Elephants mega-events APO UPP BRT Brazil football Flamengo Lula Orlando Silva violence ANT Aldeia Maracana Carlos Nuzman Dilma Eike Batista Rio 2016 Sergio Cabral 2007 Pan American Games Campeonato Carioca Corruption IOC Jerome Valcke Novo Maracanã stadiums BOPE BRASIL 2016 Brasil 2014 Engenhao Joao Havelange Maracana Policia Militar Vila Autódromo Aldo Rebelo Botafogo Henrique Meirelles Medida Provisoria Metro Revolta do Vinagre Sao Paulo Sepp Blatter World Cup 2010 forced removal Carnaval Elefantes Brancos Fechadao Marcia Lins Minerao Morumbi Odebrecht Porto Maravilha Rio+20 Romario Security Walls South Africa South Africa 2010 TCU Transoeste protests public money public transportation slavery transparency x-Maracana Andrew Jennings Argentina Audiencia Publica Barcelona Brazil Carvalho Hosken Comitê Popular Confederatons Cup Copa do Brasil 2010 Cost overruns Crisis of Capital Accumulation EMOP FERJ Favela do Metro Fluminense Fluminese Fonte Novo IMX Jose Marin Leonel Messi London 2012 Marcelo Freixo Maré Museu do Indio Olympic Delivery Authority Perimetral Rocinha Soccerex Transcarioca bicycles consumer society debt idiocy militarization transportation 1995 Rugby World Cup 2004 Olympics 2015 Copa America Banco Imobiliario Barcas SA Belo Horizonte Bom Senso F.C. Brasilerao CDURP CONMEBOL Champions League. Mourinho Complexo do Alemão Copa Libertadores Cupula dos Povos ESPN England FiFA Fan Fest Istanbul 2020 Jogos Militares John Carioca Kaka Manaus McDonald's Obama Olympic Village PPP Paralympics Providencia Recife Russia Salvador Soccer City Taksim Square Tatu-bola Urban Social Forum Vidigal Vila Olimpica War World Cup Xaracana attendance figures cities corrupcao drugs estadios football frangueiro futebol mafia planejamento urbano police repression porn privitization reforms shock doctrine taxes 201 2010 Elections 2010 Vancouver Olypmics 2013 2018 World Cup 2030 Argentina / Uruguay ABRAJI AGENCO ANPUR ANT-SP Amazonia Ancelmo Gois Andrade Gutierrez Anthony Garotinho Arena Amazonia Arena Pernambucana Athens Atlético Paranaense Avenida das Americas BID Barra de Tijuca Blatter Brasil x Cote d'Iviore Brasileirão 2013 Brasilia Brasilierao Bruno Souza Bus fares COB COI COMLURB CPI CPO Cabral Caixa Economica Canal do Anil Cantagalo Celio de Barros Cesar Maia Chapeu Mangueira Chile 2015 Choque do Ordem Cidade da Copa Class One Powerboat Racing Clint Dempsey Comite Companhia das Docas Copa do Brasil Corinthians Cuiabá Curitiba Dave Zrin David Harvey Der Spiegel Eastwood Edge of Sports Escola Friendenrich Expo Estadio Expo Urbano FGV Fonte Nova Gamboa Garotinho Geostadia Ghana Globo Greek Debt Crisis Greek Olympics HBO Hipoptopoma IMG IPHAN ISL Iniesta Internatinal Football Arena Invictus Istanbul Itaquerao Jacque Rogge Jefferson John Coates Jose Beltrame Julio Grondona Julio Lopes Julio de Lamare Knights Templar Korea Lei Geral da Copa MAR MEX Manchester United Mangabeira Unger Maracanã. Soccerex Marina da Gloria Mexico Milton Santos Molotov Cocktail Mr.Balls Neymar Nicholas Leoz Nilton Santos Olympic Flag Olympic Park Project Oscar Niemeyer Pacaembu Pan American Games Parque Olimpico Pernambuco Plano Popular Plano Popular do Maracana Plano Popular do Maracanã Play the Game Pope Porto Alegre Porto Olimpico Porto Seguro Portuguesa Praca Tiradentes Preview Projeto Morrinho Putin Qatar Quatar 2022 RSA Realengo Regis Fichtner Roberto Dinamite Russia 2018 SETRANS SMH Santa Teresa Santos Sao Raimundo Sargento Pepper Security Cameras Smart City Sochi 2014 South Korea Stormtroopers São Januário São Paulo Teargas Templars Tokyo 2020 Tropa do Elite II Turkey UFRJ/IPPUR URU USA USA! Unidos da Tijuca United States government Urban Age Conference VVIP Via Binário Victory Team Vila Autodromo Vila Cruzeiro Vila do Pan Vilvadao Vivaldao Volta Alice Wasteland Workers' Party World Cup 2018 Xavi Zurich apartments atrazos barrier beer bio-fuels bonde capacities civil society comite popular copa sudamericana crack crime dengue dictatorship estádios favelalógica feira livre fiador flooding freedom of information furos geral graffiti guarda municipal host city agreement identity infrastructure ipanema istoe labor rape riots schedule school shooting security segregation social movements stadium state of exception supervia tear gas ticket prices torcidas organizadas tourism traffic tragedy trash trem-bala velodromo wikileaks xingar