Tag Archives: risk

Economics and Morals

Economics is defined as “the study of the use of scarce resources which have alternative uses” (Definition by Lionel Robbins quoted by Thomas Sowell, Basic Economics, p. 2). “What does ‘scarce’ mean? It means that what everybody wants adds up … Continue reading

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Ethics: Labor and Lucre (part II)

Gambling (aka Gaming) is legal, in some form, in 48 of 50 states. Utah and Hawaii are exceptions. However, Hawaii has a bill gaining momentum which would legalize such. Gambling is nothing new. Antiquities speaks of such. Hundreds of years … Continue reading

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