7 ms·
If gambling stops, the economy collapses.
by trumpdong 3mo ago
If gambling stops, the economy collapses.
- paulryanrogers 3mo agoDo you mean casinos and betting apps? The stock market? Something else?
- tsunamifury 3mo agoall of it. We are by volume of growth a 'narrative' economy not a 'production economy' which for many years now is about gambling on future outcome over pay from realized production. There are of course solid arguments for this, but the issue is the narrative part of the economy needs to be a mix with follow on production returns -- which... according to our current GDP growth mix is not. As most even realized production is backed by narrative bets.