General Betting
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Superb take-down by one of the best lifestyle economists in the world
https://thecritic.co.uk/online-gambling-isnt-bad-for-the-economy/
https://thecritic.co.uk/online-gambling-isnt-bad-for-the-economy/
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He's a bit glib about what is quite a complex area of economics. The gambling industry is more of a transfer of wealth to shareholders than many other industries and, as there is no reason to believe that these shareholders will spend the profits in a greater proportion than other industries, the result is more savings and a reduction in demand. This is probably an small effect but he does try to ignore it rather than address it.
https://en.wikipedia.org/wiki/Paradox_of_thrift |
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Online gambling is the future, with LITERALLY EVERYTHING being done or taking place online these days!
A completely cashless economy OTOH is a MUCH bigger concern... |
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That'll be true Escapee if the world was one economy controlled by one government. Seeing as the UK controls less than 1% of worldwide wages, it's about as much use as a pogo stick in the desert
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The UK has to compete with countries paying much lower wages. So it needs to rely on better skills, better infrastructure, better resources and better technology. A KFC or McDonald's franchise, feeding the country shyte packed with sugar salt and god knows what, with no foreign income and profits going to the US parent, is better for the economy than a UK online bookie, with significant foreign income. I need a lie down in a darkened room with these clowns advising.
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Or head to The Kalahari with my pogo stick
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