Pros and Cons of Building a Casino in Your Neighborhood

Pro’s †¢ New Jobs †¢ Entertainment †¢ Expand Tourism †¢ Contribution to Community †¢ Contribution to Charitable Organizations †¢ Lower taxes for Residents †¢ Tax Revenues †¢ Higher Wages †¢ Higher Property Value †¢ Extends Visitors Stay in Area †¢ Money put back into Local Economy †¢ Adds to a City †¢ Attracts People †¢ Traffic of People – Better Known Con’s †¢ Street Crime †¢ Prostitution †¢ Takes from Local businesses †¢ No New Businesses †¢ Erosion of Work Ethic †¢ Pathological Gamblers †¢ Increased Bankruptcy Rates †¢ Preys on Poor and Elderly †¢ Lost Productivity †¢ Traffic Congestion †¢Ã¢â‚¬ ¦show more content†¦The people buying the tax-free tobacco are not even contributing to the state budget, part of which in part pays for the huge cost of tobacco smoke and leads many to develop lung disease. Questions, discussions, and opinions are on a rise to whether a new casino should be built in Buffalo, New York. If we ask what benefits, or what economic development will this casino bring to the community there would not be enough answers as to compare to the negative effects it will actually bring. This essay will discuss the economic impacts, social and opportunity costs brought by casinos from economist researchers who have showed significant points to why casino worsen the economy and making it harder for local businesses and employment opportunity. To answer the question, â€Å"What is economic development?†Dr. Grinols professor of economics at Baylor University and author of Gambling in America: cost and benefits, 2004 said, â€Å"When indivi duals undertake productive activity, they engage in the creation of goods and service that provide greater welfare or satisfaction than the inputs used.† (Grinols 2004). Economic development is the creation of greater value by society from its available resources which means greater income and wealth, which lead to greater utility for members of society (Grinols 2004). Dr. GrinolsShow MoreRelatedEssay on Reparations for Native Americans1881 Words   |  8 PagesCollin Brooke Term paper Native American Reparations: Pro or Con? The subject of paying some sort of reparations to Native Americans is a hot topic, and views range from the popular Fox News commentator Glen Beck who is very against reparations to the University of Colorado former Professor, Ward Churchill who is for reparations. President Obama himself has also put of his input on the topic with speeches both during the Presidential campaign and after his Inauguration. This paper seeks toRead MoreWal-mart case analysis. 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