Huge Book of Puzzles by Arcturus

By Arcturus

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This method creates regional monopolies and results in monopoly rates of profit. The examples at the beginning of this chapter showed how high such profits can be. With competition and entry limited by government, the fortunate owner of a casino monopoly stands to earn a very good return indeed. Profits earned in one market can then be used to influence the necessary legislation to expand in others. We do not mention this because successful businesses acquiring capital to expand is a cause for complaint; expanding business is a cause for complaint only if the business leads to more losses than gains for society, which is the subject of a cost–benefit analysis.

There are no state gambling plans. ”54 An example is furnished by an incident in Missouri after the Missouri attorney general filed charges of perjury to regulators against members of the gambling industry. 55 When a state Court of Appeals ruling56 recognized the attorney general’s jurisdiction to prosecute criminal gambling cases, a bill was put to the legislature for vote later in the same day to prevent him from exercising this authority. The approach taken, and the use to which influence on the legislature was put, makes this epsisode revealing.

R In 1909, Nevada banned gambling. r In 1913, it legalized it again, but not commercial gambling. r In 1931, it legalized commercial gambling. Similar histories could be produced for other states. 1. What one generation worked to permanantly eradicate, another generation resurrected. BACKGROUND SUMMARY. Any public position on gambling needs to accommodate a number of relevant facts. Gambling is an ancient practice and the nature of people’s response to it appears to be similar through time, including its popularity, the associated tendencies for it to lead to harm for some, and for promoters to use it as a vehicle for fraud.

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