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Topic:
From a purely economics point of view, does gambling harm a society/economy? [Locked] |
Sin_of_Onin  Posts: 1,307
Registered: 2005-6-29 08:21:12
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Date Posted:
1/1/00 12:01am
Subject:
From a purely economics point of view, does gambling harm a society/economy? |
Yukishiro1 posted:
I am not sure they really encourage it. It isn't in the casinos best interest for people to gamble away their mortgage money. The people casinos like most are old rich people who can come every couple months, don't create problems, and can blow 10k without it really affecting their ability to blow 10k next time around.
But it is definitely true that gambling is more likely to result in that sort of economic damage than most other consumption. I'm sure someone somewhere bought so much orange juice they had their house foreclosed on but it isn't terribly common.
They literally design casinos to make people keep gambling by losing track of time and getting lost and giving them alcohol. They have made an art out of it.
You crazy.
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"Okay... I'm with you fellas" --Delmar
F is for Fake-believe
"We apologise for the inconvenience" --God
"What Jesus fails to appreciate is that it's the meek who are the problem"--Reg
Run, Forrest! Run!
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Yukishiro1 Posts: 3,243
Registered: 2002-9-20 23:52:57
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Date Posted:
1/1/00 12:01am
Subject:
From a purely economics point of view, does gambling harm a society/economy? |
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Well sure. But if you asked a casino owner if they want their customers to gamble themselves into homelessness and joblessness I think they would say no. The ideal thing from the owner's point of view is to have people spending close to 100% of their discretionary spending on gambling but not spending more than that.
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Rosaria  Title: They call me Mellow Yellow, quite rightly.
Posts: 477
Registered: 2003-8-22 10:07:30
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Date Posted:
1/1/00 12:01am
Subject:
From a purely economics point of view, does gambling harm a society/economy? |
NuEM posted:
I thought this was going to be about banks.
It is.
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"Them Bollinger Bands on the DJIA are starting to look like columns of projectile vomit." ~ Red Pill
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Sin_of_Onin Posts: 1,307
Registered: 2005-6-29 08:21:12
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Date Posted:
1/1/00 12:01am
Subject:
From a purely economics point of view, does gambling harm a society/economy? |
Yukishiro1 posted:
Well sure. But if you asked a casino owner if they want their customers to gamble themselves into homelessness and joblessness I think they would say no. The ideal thing from the owner's point of view is to have people spending close to 100% of their discretionary spending on gambling but not spending more than that.
I see little point in arguing intent.
-----signature-----
"Okay... I'm with you fellas" --Delmar
F is for Fake-believe
"We apologise for the inconvenience" --God
"What Jesus fails to appreciate is that it's the meek who are the problem"--Reg
Run, Forrest! Run!
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theredkay1  Posts: 611
Registered: 2008-5-16 10:37:09
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Date Posted:
1/1/00 12:01am
Subject:
From a purely economics point of view, does gambling harm a society/economy? |
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Its still not clear how gambling and overspending hurts the economy as a whole. If I spend too much, that just means the casino workers/owners make more money. The economy isnt disrupted. Am I sad because I have no money? Maybe so, but my tears dont slow down the economy. Plus my tears are offset by the new happiness of the casino workers.
You cant gamble yourself into joblessness. If anything losing money would spur you to work even more.
Theres a values argument. Maybe my sadness far outweighs the new joy of the casino owner....sadness is bad so the country is worse off.
You guys are confusing economic damage to an individual with economy wide damage. If I give you all my money and declare bankruptcy, the economy isnt any worse off.
/shrug
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Yukishiro1 Posts: 3,243
Registered: 2002-9-20 23:52:57
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Date Posted:
1/1/00 12:01am
Subject:
From a purely economics point of view, does gambling harm a society/economy? |
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If you gamble yourself out of your house and car you probably gamble yourself out of a job too. Being out of a job hurts the economy. I didn't think this was all that hard to understand.
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eodoll Posts: 1,028
Registered: 2002-2-14 12:35:42
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Date Posted:
1/1/00 12:01am
Subject:
From a purely economics point of view, does gambling harm a society/economy? |
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Most people dont drink themselves into misery..so while alcohol can be detrimental to the economy and society- most of the time its positive.
Casinos too bring a positive element for most of us.
There will always be people without self control.
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Sin_of_Onin Posts: 1,307
Registered: 2005-6-29 08:21:12
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Date Posted:
1/1/00 12:01am
Subject:
From a purely economics point of view, does gambling harm a society/economy? |
theredkay1 posted:
Its still not clear how gambling and overspending hurts the economy as a whole. If I spend too much, that just means the casino workers/owners make more money. The economy isnt disrupted. Am I sad because I have no money? Maybe so, but my tears dont slow down the economy. Plus my tears are offset by the new happiness of the casino workers.
You cant gamble yourself into joblessness. If anything losing money would spur you to work even more.
Theres a values argument. Maybe my sadness far outweighs the new joy of the casino owner....sadness is bad so the country is worse off.
You guys are confusing economic damage to an individual with economy wide damage. If I give you all my money and declare bankruptcy, the economy isnt any worse off.
/shrug
Of course you can gamble into joblessness. You can gamble into all sorts of situations that cost the economy money.
Your assertions to the contrary are strange and naive.
Also individual damage in an economy that is like ours not spreads to others. Bankruptcy is also bad.
Obviously so. I will give you that gambling can be treated like any entertainment but to act like the self destructive behavior of an individual doesn't have implications that impact others is ludicrous.
Also one thing that has not been mentioned is what it does to families. It also leads to crime. People will steal to feed their addiction. Addiction is so obviously destructive it is strange to see anyone argue otherwise.
-----signature-----
"Okay... I'm with you fellas" --Delmar
F is for Fake-believe
"We apologise for the inconvenience" --God
"What Jesus fails to appreciate is that it's the meek who are the problem"--Reg
Run, Forrest! Run!
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__Bonk__  Posts: 5,122
Registered: 2009-7-25 03:04:52
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Date Posted:
1/1/00 12:01am
Subject:
From a purely economics point of view, does gambling harm a society/economy? |
Millions of people gamble with no harm to their lives but there are some people who let gambling destroy their lives. I find it funny that gambling was bad until the government got into the gambling business itself and cashed in
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I keep my eyes fixed on the sun!
A change in feeling is a change in destiny.
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