The price of victory: comparing the cost of Olympic gold to an elite arts prize

The Olympics is almost over now for another four years, and beyond the glorious highs and heartbreaking lows of participants and spectators, there’s the ritual of the cost-benefit wash-up where we calculate the public cost per medal, and collectively wring our hands at the expense of it all.

For Australia, that cost will be about A$12 million per medal.

This is the…

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