It was a shock announcement. Back in 2005, everyone thought Paris had the winning bid to host the 2012 Olympic Games. Unlike the UK’s hastily put together pitch, the French had spent 20 years fine-tuning theirs. When the IOC president declared that the Olympics were coming to London, scenes of jubilant crowds filled the screens of UK TVs. Celebrities, politicians and even the Queen were tripping over each other to enthuse about this ‘great victory’ for Britain. Were they right?

Now in the midst of economic turmoil, UK politicians still desperately cling to the hope that the Olympic Games represents, as if it were a flaming torch to light the way ahead. They continue to boast that it will boost the economy and importantly, the nation’s happiness. If they had they done their homework, they might have been better informed: Research now shows that all this rhetoric is almost certainly very wrong… Read more