[extropy-chat] casinos, yes or no

[Rafal Smigrodzki]

Damien Broderick wrote:

> At 03:05 PM 5/12/2004 -0700, Rafal wrote:
> 
>> Michael Anissimov wrote:
>>
>>> it is straightforward for the casinos to coax away their life 
>>> savings, resulting in their long-term suffering.
> 
> 
>> This is innocuous, apparently pleasant to those who have too little 
>> mathematical savvy to interfere with their thinking, does not harm 
>> third parties, or children
> 
> 
> If they spend so much on the rush of gambling that they lose their 
> life-savings (this might be true only of a small proportion, though) 
> they'll presumable require medical and other funding from taxed sources, 
> including Rafal Inc.

### Presumably these foolish and irresponsible souls will indeed demand 
funding from me (through their proxies, the venal and corrupt 
politicians), and in today's climate of disregard for private property, 
they will most likely succeed.

I see it as an argument against venal and corrupt politicians, though, 
not against casinos.

-----------------------------------

> 
> I wonder what the casino owners spend their winnings on? More lavish and 
> expensive lures? Investment in Good Causes? Are there useful software 
> spinoffs (sinoffs?).

### I would not put myself in the position of a judge over what honest 
(i.e. non-violent and non-cheating) businessmen do with their earnings. 
If they were to spend it on wild orgies with highly paid beautiful 
women, dwarf-tossing and other voluntary degradation of human dignity, 
good for them (and the dwarfs who get paid too).

But reality is different - persons in the upper 1% of the income 
distribution are much more likely to spend for good causes (research, 
infrastructure, productive business investment) than the average lower 
and middle-class gambler.

---------------------------

> 
> Presumably at least some of the money passing through the casinos is 
> still drug and other crime loot being laundered.
> 
### Which is another reason to legalize drugs, and let this money go 
through legitimate banks, so as to keep the interest rates down.

Rafal