Why the Welfare State Is Doomed to Fail

Why is gambling bad?  Why do so many religions and governments abhor gambling? Is gambling "bad" simply because it encourages greed?  Or is it because it encourages laziness, as winners do not do anything significant to deserve their winnings?  Or is it because it deals primarily in earnings through a game of chance? No.  It is because gambling is a zero-sum game.  A zero-sum game is one where total gains exactly equal total losses among all the players at any one time.  No net wealth is created or added to society by engaging in the activity. For example, in a game of poker, your wins are exactly the other players' (including the house's) losses, and vice-versa.  Compare this to a worker in a factory's assembly line -- the worker, by spending his time and labor on raw materials, enhances those materials' value and creates goods which are useful to those who demand them.  The worker contributes to the economy and society by engaging in his work....(Read Full Article)

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