| Cutting the Cards and Craps:
Right Thinking about Gambling Economics
This landmark study, published in
December 2001, corrects common misconceptions about the
meaning of economic development and applying logic to the valid
cost-benefit evaluation of
casino gambling. Author Earl Grinols is the former chief economist
for the Council of Economic Advisors to President Ronald Reagan. For
further study, consider his book, Gambling in America, Costs and
Benefits, published in 2004 by Cambridge University Press.
Grinols Study
Business Profitability versus
Social Profitability:
Evaluating Industries with Externalities, The Case of Casinos
Gambling is a cost, even to those who do not gamble!. This is an
extensive study published in the Journal of Managerial and Decision
Economics in 2001. Authors Earl L. Grinols and David B. Mustard were
at that time professors in economics at the University of Illinois
and Terry College of Business, University of Georgia, respectively.
Casino gambling is a social issue, because in addition to the direct
benefits to those who own and use casinos, positive and negative
externalities are reaped and borne by those who do not gamble. To
correctly assess the total economic impact of casinos, one must
distinguish between business profitability and social profitability.
This paper provides the most comprehensive framework for addressing
the theoretical cost–benefit issues of casinos by grounding
cost–benefit analysis on household utility. It also discusses the
current state of knowledge about the estimates of both the positive
and negative externalities generated by casinos.
Grinols-Mustard Study
New Mexico’s Indian Casino
Gambling
Economic and Revenue Effects
This study
conducted by the New Mexico Taxation and Revenue Department shows
the state’s tax revenue would have been more than $1 billion better
off without casino gambling. That is counting the 18% “fair share”
of handle paid by the casinos. The study demonstrates how gambling
sucks revenue from other businesses – businesses that used to pay
taxes.
New Mexico Study
Destructive
Economic Policies in the Age of Terrorism:
Government Sanctioned Gambling as
Encouraging Transboundary
Economic Raiding and Destabilizing National and International
Economies
This study by
Professor John Warren Kindt and Anne E. C. Brynn explores the
destabilizing influence of gambling on the worldwide economy. It was
published in the Temple International and Comparative Law Journal,
Vol. 16, No 2.
Kindt-Brynn Study
Would
Re-criminalizing U.S. Gambling Pump Prime the Economy?
Published in
the Spring, 2003 edition of the Stanford Journal of Law, Business
and Finance, this study examines the destructive and cannibalistic
nature of gambling. This work by John Warren Kindt considers how the
overall economy would benefit by returning gambling to its former
illegal state.
Kindt Recriminalization Study
Internet Gambling and Destabilization of National and
International Economies:
Time for a Comprehensive Ban on Gambling Over the World Wide Web
This study by John Warren Kindt and Stephen W. Joy notes, "Policy
makers worldwide generally failed to identify the large
socio-economic costs associated with Internet gambling, as well as
the ability of internet gambling and other forms of cyberspace
gambling to destabilize local, national and even international
economies." This study was published in the Denver University Law
Review in 2002.
Internet Study |
