Sunday, August 24, 2008

Olympic & Entrepreneurship

How is Olympic medal tally related to the world order ?

Historic trend for UK, US & Former USSR in terms of number of medal won per capita GDP suggest interesting conclusions. Though there is a visible decline for all three, Former USSR shows sharpest. Countries like Jamaica establish the fact that there is no close relation between Olympic medal and the financial power of the country, but we need to look deeper into the events where countries win. Russia traditionally has had stronghold in gymnastics while countries like Jamaica win in atheletics, while US has traditionally been winning in all kinds of events... individual or team. The declining medal to per capita GDP ratio is perhaps another indicator of 'flat world' and changing world order. The relatively stable trend for UK seem to indicate relativly stable social fabric for UK. It has undergone changes, but not as revolutionary as US or Russia & old friends.

The earstwhile USSR was known for its socialist way of things and children were identified quite early and trained to win at olympics. The events they won it required such "disciplined" training. While Jamaican atheletes might not had such training facilities, but its rather the power in the genes.

In US, UK while it seems more of the individualism... people excel at event of their interest.. hence a wide range of success stories.

Even Indian medals at 2008 suggest individualism victory. All the medal winners are ones who had put on line their own money to achieve the feet. This entrepreneual turnaround will definitly lead India to more medals in future olympics as their is now a establish record of instant success and celebrity status on winning. A status which till now was enjoyed by only cricketers and filmstars. Now there is another avenue. Indian entrepreneurs will surely grab this opportunity in near future and Indian victory will not be limited to few events.. but in diverse events.


Anuj said...

Bottom line: more money and resources(either govt. or private) for sports persons results in better results

Govt sponsored resources are suspect in a country like India due to prevailing corruption. So more likely, it is private enterprise that would lead the success story (as usual!!)

Ashish Gupta said...

See this article, which also regresses medal counts on many factors and finds few explaining most.

Nagesh.MVS said...

If the Gov give more income like Cricketers they r also play well.
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