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Topic:
From a purely economics point of view, does gambling harm a society/economy? [Locked] |
Kjarhall  Title: The Pungent One
Posts: 915
Registered: 2002-3-1 15:47:21
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Date Posted:
1/1/00 12:00am
Subject:
From a purely economics point of view, does gambling harm a society/economy? |
It does consolidate money into the hands of fewer people. It depends on whether you think that's a bad thing or not.
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theredkay1 Posts: 611
Registered: 2008-5-16 10:37:09
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Date Posted:
1/1/00 12:00am
Subject:
From a purely economics point of view, does gambling harm a society/economy? |
Yukishiro1 posted:
There's no answer in the abstract.
The damage gambling does is the same sort of damage that drugs do. When people spend more money than they can afford to spend it hurts the economy in the long run. Drugs (including alcohol) and gambling happen to be two areas that seem more prone than most to people being unable to control themselves and spending themselves into a hole.
But it could potentially be anything. I'm sure some people spend themselves out of house and home because they're addicted to buying baseball cards.
I dont think this is right. The question isnt whether it might hurt the bank account of one individual...its what is the aggregate impact.
If I go to your shop, overspend and wrack up a big credit card bill....my debt is your income. The economy isnt worse off. This isnt even a net increase in aggregate debt since you have more money for savings. Last week you had debt and I had savings, now the situation is reversed. Maybe I am economically damaged, but you are better off.
I think drugs really can be productivity destroying. Most people accomplish less when under the influence...but this isnt true if you lose money at a casino.
There may be a transfer of wealth between classes and persons...and maybe we think thats a bad thing but in the aggregate there is really no harm done by a casino. Its no different than any other business in this regard.
I dont think gambling has alot of room for productivity enhancements and it wont create much wealth but that may be my own bias. Casino's arent bad but they are just going to pull spending away from somewhere else. If a casino in New Orleans pulls spending away from leisure activities in Florida, its a win for the N.O. economy...if it pulls spending away from movie theaters in N.O., there is no real improvement for the N.O. economy.
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Brother_Tempus Title: Patriot
Posts: 985
Registered: 2001-1-9 08:07:00
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Date Posted:
1/1/00 12:00am
Subject:
From a purely economics point of view, does gambling harm a society/economy? |
Kjarhall posted:
It does consolidate money into the hands of fewer people.
Source?
In Vegas the money goes into the pockets of the 100k+ employees of the casinos
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BT is usually right - Onslaught
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Yep, BT is right - Aerlinthian
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Yukishiro1  Posts: 3,243
Registered: 2002-9-20 23:52:57
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Date Posted:
1/1/00 12:00am
Subject:
From a purely economics point of view, does gambling harm a society/economy? |
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Someone who spends too much money gambling and ends up with their house foreclosed on damages the economy as a whole, not just their own finances. Someone who uses every spare dollar at the casino instead of investing in their own education and financial well being hurts the economy as a whole, not just their own finances.
Your argument is somewhat like saying too much debt can't hurt an economy because someone always holds that debt so it's just a transfer. Or that if everyone went out tomorrow and spent 100% of their income on Peeps the economy as a whole would be just the same.
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Ashmaele Title: Pastor of Muppets
Posts: 1,809
Registered: 2002-1-15 08:30:50
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Date Posted:
1/1/00 12:00am
Subject:
From a purely economics point of view, does gambling harm a society/economy? |
Brother_Tempus posted:
Kjarhall posted:
It does consolidate money into the hands of fewer people.
Source?
In Vegas the money goes into the pockets of the 100k+ employees of the casinos
All of it? Really? Source?
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I had a dream. It was an incredible dream. When I awoke, I had a huge mess to clean up.
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Date Posted:
1/1/00 12:00am
Subject:
From a purely economics point of view, does gambling harm a society/economy? |
Ashmaele posted:
Eager_Igraine posted:
PhillsburyBandit posted:
I don't think gambling hurts a society, it benefits it instead. Look at how much money has went to education and other programs from the lottery.
Don't be a n00b, as the lottery funds programs the state cuts existing funding for those programs. There is no net financial benefits to either roads or education from lottery proceeds.
This is pretty much exactly what happened in Florida.
Yeah but what difference does it make its all taxpayer money anyway. Its as if the state never cut it at all. And the question was does gambling harm society and it doesn't, it pays the bills.
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Eat the rich.
pho is pronounced closer to fuh than foe. as in fuhk you.-Yuki
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Yukishiro1 Posts: 3,243
Registered: 2002-9-20 23:52:57
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Date Posted:
1/1/00 12:00am
Subject:
From a purely economics point of view, does gambling harm a society/economy? |
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State lotteries are a tax on poor and/or stupid people.
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the_great_ontex Title: This is what cool looks like
Posts: 791
Registered: 2012-2-13 18:38:12
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Date Posted:
1/1/00 12:00am
Subject:
From a purely economics point of view, does gambling harm a society/economy? |
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A lot of the negative social stigma and it's scandalous "lifestyle" that's attached to it is a social construct that resulted from its illegality.
Unless a Casino is deliberately cheating at their tables for their benefit, Gambling doesn't hurt anyone but the person themselves (sometimes it benefits them). We shouldn't have laws based on nothing but moral principal. Laws should only exist if they impact someone other than the person in a negative way (not to be used too broadly)
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Brother_Tempus Title: Patriot
Posts: 985
Registered: 2001-1-9 08:07:00
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Date Posted:
1/1/00 12:00am
Subject:
From a purely economics point of view, does gambling harm a society/economy? |
Ashmaele posted:
Brother_Tempus posted:
Kjarhall posted:
It does consolidate money into the hands of fewer people.
Source?
In Vegas the money goes into the pockets of the 100k+ employees of the casinos
All of it? Really? Source?
Common sense, if you have a casino then you need employees to run the casino. If you have employees then you pay them from the revenue you are generating
you deliberate attempt to be obtuse is noted.
As for the 100k+ number : http://gaming.unlv.edu/reports/lvstrip_emp.pdf
-----signature-----
You win ACF, dude - Osmenthe
BT is usually right - Onslaught
i think we need more BT on page 1 - FighterUSAF
Yep, BT is right - Aerlinthian
Got guns & ammo? Food? Precious metals?
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Kjarhall Title: The Pungent One
Posts: 915
Registered: 2002-3-1 15:47:21
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Date Posted:
1/1/00 12:00am
Subject:
From a purely economics point of view, does gambling harm a society/economy? |
Ashmaele posted:
Brother_Tempus posted:
Kjarhall posted:
It does consolidate money into the hands of fewer people.
Source?
In Vegas the money goes into the pockets of the 100k+ employees of the casinos
All of it? Really? Source?
Beat me to it. 
You don't need a source to do math BT.
Millions put money in. Even if your 100K+ employees took an even share, it's still consolidation. Now add ownership in the mix and what their percentage is vs. your group of employees and it's even more consolidating.
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You're a crazy moron*
*http://vnboards.ign.com/outpost/b22180/115147923/r115151508/
hah! true story tho i'm a woman an i even love boobs..how can you not??- HallowEve
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