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Gambling in America: Costs and Benefits
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Book Description
Gambling in America explains why the public decision making process governing the issue of casino gambling tends to lead to wrong outcomes and why the studies typically provided to justify the phenomenon are conceptually flawed. The book then seeks to set the record straight by describing what true economic development is, sets up the framework for a valid cost-benefit analysis to assess whether true development occurrs and applies its methodology to the casino industry in America. Using this approach, accounting for a wide range of economic and social factors, Professor Grinols documents that the social costs of casino gambling considerably outweigh their social benefits.
25/04/2007
We used this book to help fight off a casino planned for our small town, and we won. Grinols is an economist and the expert on casino economics. He points out that for every $1 that comes into the area from a casino, $3 goes out in unforseen economic costs. Casinos are not sustainable economic development. They are a regressive tax, have very high social costs, and as Warren Buffett said, "government shouldn't be in the business of making losers of its citizens".
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