Fool’s gold can’t buy prosperity: lessons from the casino debate

Martha Bebinger asked me to comment on whether instate casinos might help the commonwealth recapture state tax revenues that, courtesy of Foxwoods and Mohegan Sun, currently go to Connecticut. I told her that Massachusetts municipal officials were extremely concerned about whether casino revenues might end up being used for purposes other than local aid. I said that we were also worried that the state’s casino-related revenues might not be as great as advertised – and I reminded her that casinos bring significant social costs to the communities that host them.