Gambling in America: Costs and Benefits [Hardcover]

Earl L. Grinols (Author)

Book Description

Publication Date: January 12, 2004

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.

Editorial Reviews

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.

Product Details

• Hardcover: 246 pages
• Publisher: Cambridge University Press; 1st ed edition (January 12, 2004)
• Language: English
• ISBN-10: 0521830133
• ISBN-13: 978-0521830133
• Product Dimensions: 9.2 x 6.4 x 0.8 inches
• Shipping Weight: 6.4 ounces (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #1,798,657 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

7 of 8 people found the following review helpful:

5.0 out of 5 stars Excellent Review of Economics of Gambling, April 25, 2007

By 

Susan S. Paddock "consultant, author, counselor" (Gettysburg, Pa USA) - See all my reviews
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This review is from: Gambling in America: Costs and Benefits (Hardcover)

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".