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Lotteries are a sad story of Government policy gone awry. They prey on the poor, uneducated. It seems they could be just a devious plot to get back the tax refu
by lukeqsee 16y ago
Lotteries are a sad story of Government policy gone awry. They prey on the poor, uneducated. It seems they could be just a devious plot to get back the tax refund the poor (as in sad) people get every year.
- watchandwait 16y agoYeah, the article fails to recognize that the lottery's returns are so poor because the government has a monopoly on them. At least private sector lotteries would have to compete on payout levels.
- fh 16y agoNo, they wouldn't. All that they'd compete on is perceived payout. In other words, if you have private competing lotteries, they'd optimize the heck out of the feedback loop explained in the article, ruining people's lives even more.