Gambling in America Costs and Benefits [Paperback]

The book documents that social costs of casino gambling outweigh their social benefits.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.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.The public decision-making process governing the issue of casino gambling tends to lead to wrong outcomes, and the studies typically provided to justify the phenomenon are conceptually flawed. Seeking to describe what true economic development is, this study establishes the framework for a valid cost-benefit analysis to assess whether it actually occurs and its methods can be applied to the casino industry in America. Accounting for a wide range of economic and social factors, Earl Grinols concludes that the social costs of casino gambling col“8