An excellent Panorama documentary last night on the demerit good that is gambling. Can be watched on iplayer here: http://www.bbc.co.uk/iplayer/episode/b01nm27r/Panorama_Gambling_Nation/ It offered some excellent insight into both the informational failures, addictive nature, myopia, incorrect valuations of MPB/MPC, as well as the negative externalities of gambling. It was also interesting to look at what government interventions exist in this market failure (the answer: not very many) - with only one NHS programme dedicated to it, with the main solution being a voluntary campaign by the free market firms themselves.

Wake up with today’s latest teaching resources & student support

Subscribe to our daily digest and get today’s content delivered fresh to your inbox every morning.

Or follow us
Close

Explore tutor2u

Close

Economics