With the Olympics just finishing in Beijing, China I thought it would be a good time to look at this business called sports. Mark my words it is a business it is no longer just a game. The Chinese government has spent US$80 billion on hosting this event. At a time when there are hundreds of thousands of Chinese who are homeless after the earthquake: is this how money should be spent?
This brings me to Jamaica where large sums were spent on hosting the Cricket world cup. The Jamaica Football federation needs three billion dollars to fund the programme to the South Africa world cup. The reality is that these sports have become so professional that for small countries to compete large sums of money have to be spent on playing sports. But for small countries like Jamaica, is this the best investment for their money?
We often don’t see this as an investment but it is a choice about how scarce resources should be used. I am not advocating that no money should be spent on sports I am only wondering whether too much is being spent. An investment in sports helps a few select persons to excel with a promise of a potentially large return. There is no doubt that professional sportsmen earn large salaries. There is also no doubt that many persons get a sense of pride when our athletes do well in competitions.
However, we ought to consider whether more of these resources ought to be invested in education. Education gives a large number of persons the opportunity to earn a salary that will support them and their families. Education can help almost everyone to succeed whereas sport will only benefit a few talented persons.
Feedback question: Is too much emphasis being placed on sports and not enough on education?
education finance…
Good post. I am looking into these issues on my blog….
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i love this sharing, i will come try…
I think it’s pretty harmful to shift any emphasis away from education.