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Socio-Economic Impact of Gambling

Since forever, human beings have started partaking in formatted games of chance or playing as they are more technically known there is not a single society or culture which has not link pos4d experienced the over-whelming influence this game had on by using its thoughts, beliefs and length of events. For people partaking in these games it elevated to a special significance, moving from merely being a game to a passion, an indulgence that consummated their sensory faculties, their decisions and even their existence. All the other concerns became supplementary 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 required share of playing impacting our socio-economic as well as political order. Pundits still claim that Mahabharata was outright the second stage of what was initially merely 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 animals to the provocation of the chop. So, playing in whatever format has often left a threatening scar on the face of the human race. Though that is changing nowadays but whatever the case may be the influence of playing has often been undeniable.

The social and economic impact of playing has attracted lots of research primarily because they were needed to reinforce the arguments of two groups which are very polarized in their opinion for the influence of playing. Those who consider playing a serious ill argues that playing is an unfullfiling pursuit. It is a sterile and clean activity that provides no productive value, creates no output, no money or goods are generated though a lot of time and resources are absorbed in the same. Though they forget that the same judgement can be applied to Disneyland, movie and other such hobbies whoever sole purpose provides recreation and any economist worth his salt will vouch that recreation is a very important activity for any flourishing economy. There are others that will still maintain that playing as a habit often comes riding on with many other attitudinal disorders, an issue 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 sad to say! There is still no certain research that will prove any correlation between playing and bankruptcy or even with any tangible consequence.

On the other hand are those who claim with facts and figures as to how legalized playing 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 occupations for the population around them. Facilities are built and supplementary businesses have a field day catering to the playing tourists. The whole economy gets an increase up and sums of money are paid simply as tax revenues from these playing havens. This all is done through the cash that has been attracted from beyond the economy resulting in a general profit. Nevada is the perfect example of such a growing 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 men and women 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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