Gaming (#207, Topic M)

Today's Financial Times has an editorial on "Casino Capitalism," with a subtitle "Governments should not bet the economy on gambling." The tone seems to be negative. Good. Then, the cover story in its second section, complete with a big color photo of a roulette table, is entitled "Macao is poised to outshine the Las Vegas strip." I often admire the supposedly God-fearing westerners peddling vice to the world without even blinking. In the 19th century, it was opium; in the 20th, tobacco. In the 21st century, it probably will be gaming. Indeed, yesterday, the popular Mad Money host devoted his hour-long TV program on, using his own words, sin stocks: companies selling alcohol, firearms, and tobacco; in earlier programs, he touted two Las Vegas headquartered companies setting up shop in Macao. Again, using his own words, when there is money to be made, forget about morality. At least he was honest. (In the 19th century, British lawmakers justified the exportation of opium to China on the ground that it was legal in Britain; presumably, to them, legality = morality.) Westerners are fond of horse-racing, as evidenced by spacious race courses built for this activity; some remnants may still be found in Shanghai (when Britain had a settlement after winning the opium war, now used as a park), Hong Kong (a one-time British colony), and Macao (a one-time Portuguese colony). Their justification in engaging horse racing is said to improve the horses' breed, which, of course, is legal. These westerners also accuse Asians in general and Chinese in particular of indulging in gaming; presumably, all these casinos in Las Vegas and Atlantic City are built for their benefit. Could this be so? If they do frequent these facilities, they probably would be a distinct minority. Most, indeed, refrain from participating in this activity even when they are in their facilities. Some years ago, when my wife was still active, I accompanied her to a conference in Las Vegas. We stayed in a hotel on the strip. While we enjoyed Las Vegas's dinner shows, we did not even play the slot machines. Clearly, we do not fit in, particularly when the easy stereotypes these all-knowing westerners set up for us do not fit. What a pity.