Economist

The Economist is a weekly international news and business publication that offers reporting and commentary on a wide variety of issues. In the following viewpoint, the editors of the Economist argue that legalized gambling is not an effective tool for economic development. Throughout the 1990s, the viewpoint explains, states across America legalized casino gambling in the hope that it would benefit the local economy by increasing tourism. But according to the Economist, most of these new casinos are patronized by locals, who spend their money on gambling rather than on buying goods from other businesses. There is thus no net benefit to the local economy. Furthermore, according to the viewpoint, communities that legalize gambling incur substantial social costs—in the form of problem gambling and crime—which are ultimately paid for by taxpayers.

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