Magazine article The American Prospect

High Stakes

Magazine article The American Prospect

High Stakes

Article excerpt

BARBARA DREYFUSS' article "Politicians Bet the Farm" [March 2008] hits the important points on the problems with the rise in gambling.

Managing a regional economy is like filling a bathtub with the drain open. To grow, more dollars have to pour in from selling goods and services to other regions than drain out from purchases from other regions. Do casinos open the faucet and fill the tub or do they open the drain and empty the tub? This depends on where the casino revenues come from and how much of those revenues are spent locally.

In Philadelphia, roughly three-quarters of casino revenues are pulled out of the city with the vast majority of the revenues coming from local residents. This means that local businesses that recycle more dollars locally lose as people shift where they're spending and the jobs those businesses provide disappear. The result is a bigger drain and a net loss of jobs.

FREDERIC H. MURPHY

Professor,

Temple University

Philadelphia, PA

BARBARA DREYFUSS' recent characterization of casino expansion ignores countless studies demonstrating the positive impact of casinos.

Dreyfuss presents as fact the opinions of well-known casino opponents at the expense of independent, peer-reviewed research, which shows that casinos provide tax revenue, high-paying jobs, and infrastructure support for their host communities. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.