Socio-Economic Impact of Gambling

Since forever, human beings have started indulging in formatted games of chance or casino as they are more formally known there is not a single society or culture which has not link pos4d experienced the over-whelming influence this game had on nutrition its thoughts, beliefs and course of events. For people indulging in these games it elevated to a special significance, moving from merely being a game to a passion, an indulgence that consummated their smells, their decisions and even their existence. All the other concerns became legitimate diminishing to the back of the mind while hands, eye and brain became synchronized into shelving that deck of cards.

As far as The indian subcontinent is concerned, if mythology is to be believed, we had more then necessary share of casino which affects our socio-economic as well as political order. Pundits still argue that Mahabharata was simply the second stage of what was initially only a board game with chop. Entire kingdoms, valor, pride and even modesty were hedged as a bet that eventually changed the head of Aryan brilliance in the great Indian sub-continent. Then there is mention of the Raja Nala of yore (of Nal-dayamanti fame) who also felled food to the testing of the chop. So, casino in whatever format has often left a sinister scar on the face of the human race. Though that is changing nowadays but whatever the case may be the influence of casino has often been undeniable.

The social and economic impact of casino has attracted lots of research primarily because they were needed to bolster the arguments of two groups which are very polarized in their opinion about the influence of casino. Those who consider casino a serious ill argues that casino is an unproductive pursuit. It is a sterile activity that has no productive value, creates no output, no money or goods are generated though time and resources are absorbed in the same. Though they forget that the same sense can be applied to Disneyland, movie and other such likes and dislikes whose sole purpose provides recreation and any economist worth his salt will vouch that recreation is a very important activity for any growing economy. There are others who will still maintain that casino as a habit often comes riding on with many other attitudinal disorders, a state of affairs mentioned as Co-morbidity that creates strong economical disorders pertaining to an individual pushing him to bankruptcy or worse still to a life of crime but however! There is still no certain research that will prove any correlation between casino and bankruptcy or even with any tangible consequence.

On the other hand are those who argue with facts and figures as to how legalized casino over a period of time has resurrected the fortunes of many a dwindling economies and save the citizens of sure bankruptcy. Casinos being highly labor intensive creates increased employment opportunities for the population around them. Facilities are built and supplementary businesses have a field day catering to the casino tourists. The whole economy gets an increase up and money are paid simply as tax revenues from these casino havens. This all is done through the cash that has been attracted from outside of the economy resulting in a general profit. Las vegas is the perfect example of such a prosperous economy that has turned the whole city into one giant casino and emerged as the entertainment capital of the world. Then economists also point out that there is the satisfaction of people who always wanted to gamble and in legalized economy are now able to gamble. This satisfaction is of paramount importance in economy and is mentioned as Consumer Surplus, a term that can be theoretically computed for its dollar value.

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