The first two London Olympics offer food for thought in the run-up to London 2012 with its multi-billion pound budget during a global economic recession new sporting arenas Olympic villages & high-speed rail links. When Vesuvius erupted in 1906 Italy had to pull out of hosting the Games. London stepped in & delivered new stadia without any government assistance in just two years. In 1948 still recovering from the ravages of war London hosted the Olympics again. The entire budget for the 1948 Games was 760 000 & they turned a profit of 29 000. This history of the London Olympics which concludes with a look ahead to 2012 is a timely & fascinating chronicle of the Games of another age.