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THE ROOTS OF MODERN ‘SOCIAL COST OF GAMBLING’ ESTIMATES
Author(s) -
Walker Douglas M.,
Kelly Shan M.
Publication year - 2011
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.2010.02046.x
Subject(s) - social cost , government (linguistics) , focus (optics) , sovereignty , economics , public economics , property rights , property (philosophy) , law and economics , microeconomics , positive economics , sociology , political science , law , epistemology , linguistics , philosophy , physics , politics , optics
We discuss some critical issues in social cost of gambling methodologies which suggest that many social cost estimates are arbitrary. Rather than using monetary estimates of costs and benefits, we argue policy‐makers should focus on fundamental issues: consumer sovereignty, property rights and the role of government in free societies.