The Economics of Sport

The fanfare surrounding this summer's Olympic Games in Athens and the Euro 2004 soccer tournament, which starts in Portugal this weekend, is sure to include much curmudgeonly hand-wringing over modern man's obsession with sport. But is it really so modern? The authors of The Economics of Sport ask their readers to consider the following signs of obsession, and to guess which sport they are describing:

* athletes' pay running at ten times that of a doctor or a lawyer;
* promotional symbols and motifs festooning cups, lamps and fans' homes;
* and huge profits arising from the ownership of the rights to players.

An account of soccer today? Actually, no: it is instead a description of the gladiatorial games of Roman times. The book, which applies economic analyses on sports, offers a reminder that money has never been far from athletic exploits. For a brief review, check out The Economist's review.