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Wednesday, November 16, 2005

Government Could Make A Whorehouse Boring

Governments have no entrepreneurial gene. They may know how to tax business, attack business and inhibit business but they do not know how to do business. An economics student and gambler from New Orleans, Vedran Vuk, explains how the Canadian government's attempt at creating casinos sucked the life and vice out of these halls of human addiction.

Vuk examines Canada's, government-owned and run casinos in Ontario. He explains how there are no free drinks, lousy buffets and architecture that could only have been chosen by 20 government nerds in a boardroom. In comparison, the gaming paradise of Las Vegas was created, designed and managed by entrepreneurs whose one thought has been and continues to be "how do we get people to buy our product"? In the Canadian casinos people wait in line to get seats at gambling tables.

Writes Vuk:

Las Vegas casinos do not give great buffets, free drinks, and special prizes out of the goodness of their hearts. These offers come through the concern for their own bank accounts and the competition with other casinos. The commie casino designed for the people of Ontario is worse for the customers than casinos based on profit.

The essentials of economics are missing. Writes Vuk:

Ludwig von Mises pointed out the flaws of government-run non-profit organizations by saying, "In the absence of profit and loss the entrepreneurs would not know what the most urgent needs of the consumers are. If some entrepreneurs were to guess it, they would lack the means to adjust production accordingly."

A Mises Institute Christmas: $17The government-run casinos have fake entrepreneurs that cannot adjust their production through dealers and effective management to match the demand of customers. They only make guesses at the number of customers that may possibly come into the casino. This is exactly what Mises is speaking about when he says of such quasi-markets, "They want people to play market as children play war, railroad, or school. They do not comprehend how such childish play differs from the real thing it tries to imitate."

9 Comments:

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cehwiedel
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http://www.kickingtraces.com/

 
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