Gambling in America: Costs and Benefits

by Earl L. Grinols

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 considerably outweigh their social benefits.

248 pages, Hardcover

First published January 12, 2004

Reviews

[Stephen · Rating 5 out of 5]

The best book on econometrics of legalized gambling. The author, Distinguished Professor of Economics at Baylor, believes that legalized gambling fails a cost-benefit test, but he moves carefully and clearly to show the reader how he gets there. I own a signed copy well-thumbed, and refer to it at least once a week. I've give copies to others and loaned my own prayerfully awaiting its return.

Not hard to find in big libraries. There is also an e-book.

Some parts are hard to follow, graduate level economics, but everything is explained also in easier terms. Requires and rewards careful study. Casino promoters ignore the existence of the book, but considering the author's eminence and seniority and the fact that he has never received payment for his testimony or research from anti-predatory gambling sources it is unpardonable to dismiss it.