World Cup Economics

In this World Cup keynote, Big Think's Chief Economist Daniel Altman discuss how countries that host the World Cup are directly affected economically by their wins and losses. Altman explains that if Brazil were to win the World Cup this year it could positively enhance the country's economic state and calm down the recent protests in the country over the billion of dollars spent on World Cup infrastructure, updating of stadiums and security apparatus.

In the talk, Altman highlights how the population is correct about feeling robbed about the money being spent on the games instead of spending those billions of dollars on grassroots issues like healthcare, education, worker training and housing. However, he also believes that like other countries before it, when the host country wins the games its tends to see an influx in the economy and a growth in tourism -- and in Brazil's case, it is direly needed with the country's recent lag in economic growth.

"If Brazil were to win the World Cup, it could add consumer confidence that could really get the economy going," says Altman in his World Cup keynote.