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bongo
11 Sep 24 21:51
Joined:
Date Joined: 12 May 01
| Topic/replies: 6,052 | Blogger: bongo's blog
Superb take-down by one of the best lifestyle economists in the world
https://thecritic.co.uk/online-gambling-isnt-bad-for-the-economy/
Pause Switch to Standard View Online Gambling harms the economy...
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Report dave1357 September 12, 2024 4:42 PM BST
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
Report Gamer_2022 September 12, 2024 5:45 PM BST
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...
Report Escapee September 17, 2024 11:37 PM BST

https://en.wikipedia.org/wiki/Paradox_of_thrift


If thrift is proven to harm the economy, then logically the same metrics can be used to prove that low wages are harmful for the economy. Crazy

Report CLYDEBANK29 December 24, 2024 12:22 PM GMT
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
Report CLYDEBANK29 December 24, 2024 12:35 PM GMT
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.
Report CLYDEBANK29 December 24, 2024 12:38 PM GMT
Or head to The Kalahari with my pogo stick
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