#54, Medals

Every two years the world has the privilege of seeing the best athletes in the world compete against one another in the Olympics.  This competition unites people all over the world through a common love of sport and their home nation.

Olympic athletes are drawn together by another common interest, medals.  Years of back-breaking work and sacrifice are symbolized by a tiny disc of precious metal.  The glory of winning an Olympic medal and honor of representing one's country are immeasurable, but there is something more tangible offered to some country's athletes...money.  This year, more than any year in the past, countries are offering significant cash incentives for Olympic medals.

South Korea has been particularly aggressive.  The government has offered generous sums of cash to its athletes for winning Olympic medals.

Gold Medal: ₩40,000,000 (+₩20,000,000 from Samsung CEO Lee Kun Hee)

Silver Medal: ₩20,000,000 (+₩10,000,000 "...")

Bronze Medal: ₩12,000,000 (+₩6,000,000 "...")

In addition to the lump sum of cash, the government will pay gold medal athletes 1 million won per month for the rest of their lives.  In contrast, Great Britain does not offer any cash incentives (According to The Onion, North Korean winners will receive "um, this chunk of wood over here, and this busted remote control, and, what's that over there? A radio dial? Yeah, some sort of radio dial").

The Korean government is investing a sizeable amount of money in its Olympic program.  Why do you believe the government is investing so much money in Olympic medals?  Does the existence of these incentives affect your feelings about the Olympics?  Is this a good use of limited government resources?  Defend your position.

Optional: Would you delay attending university to pursue an Olympic medal?

-Brenden Lee Teacher

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