All of these nuances have been compressed, or perhaps overlooked, in the widely reported $50 (or $51) billion price tag. Attention-grabbing by itself, the big number seems to support a larger media theme: The Sochi Olympics are designed to showcase Putin’s autocratic rule and to make a grand statement about a newly assertive Russia. “For President Putin [staging the Games] is a chance to show off Russia as a resurgent superpower,” wrote the Times of London.
The questionable cost figure may also have gained currency in media accounts because it “resides on the cusp of plausibility,” a key factor in the spread of media-driven myths throughout the ages, said W. Joseph Campbell, a professor at American University and the author of “Getting It Wrong: Ten of the Greatest Misreported Stories in American Journalism.” Plus, he said, it’s easier for journalists to go with a figure repeated by other news outlets than to do “the very hard work required to develop an independent estimate.”