Public Choice Theory and the Olympics

Well, Coe-baby's £10billion egg and spoon race is a really good example of public choice theory at work. Public choice theory describes why politicians mainly do things that are against the public interest:

Public Choice theory is often used to explain how political decision-making results in outcomes that conflict with the preferences of the general public. For example, many special interest and pork barrel projects are not the desire of the overall democracy. However, it makes sense for politicians to support these projects. It may make them feel powerful and important.

I guess £10billion would make them feel powerful and important?

Meanwhile. I've discovered a trailing boondoggle, the 'Legacy Delivery Company' another strand whereby the great and good, their friends the property developers and other scummy industrialists feed at the public trough to the detriment of the people.

The chair, Baroness Ford, holds a chair in 'real estate finance' (fairly ridiculous though not as ridiculous as the glory days of TVU) and has a banking background, so we understand in advance who the (pull my) legacy is for, don't we?