According to the speaker, the first modern Olympic Games were held as an international competition.

The modern Olympic Games began in Athens in 1896 as a result of the initiative of Baron Pierre de Coubertin, a French educator whose desire was to promote international understanding through athletics. Nine nations participated in the first Games; over 100 nations currently compete.

Inflation stems from the instability of capitalist economic systems. That this instability no longer creates cumulative depressions is due to the intervention of the government sector. Increased institutional rigidity also limits downward price adjustment.