Macau’s Casino Industry: Driving the Economy!
When it surpassed Las Vegas as the world’s biggest gambling industry in 2006, that too by a huge margin (more than 5 times the revenue of Las Vegas), it left everyone amazed. And since then Macau’s gaming industry hasn’t looked back.
With a land area of 29 sq kms, Macau’s natural environment lacks major resources like forests or woodlands, arable land and pastures. This makes Macau’s its economy largely dependent on the service industry, of which a large share of the inflows is generated by the tourism and gaming industries.
Gambling – A Boon or A Curse?
Gambling in India seems to have a negative connotation. The very mention of the word conjures up images of people losing their life’s earnings (and even their wife… courtesy The Mahabharata). Gambling is perceived as an addiction that could lead to misery. Is that what gambling is all about?
Rakesh Wadhwa. Ever since, I was a school boy, I knew India was on the wrong path. Socialism was just not what we needed to get ahead. Government controlled our travel; government controlled our ability to buy and sell; and government controlled our freedom to move our money. My life has focused on the inherent rights people have. When I was in college, I never understood, what the governments meant by their "socialistic attitude". If people are free to buy, sell and move their capital themselves without any restrictions by state, then the welfare of people is inevitable & hence the countries they live in will become wealthy. The government has no right whatsoever, to point a finger at me or my business. I am not a revolutionary. I just want to light up my cigarette and not get nagged about it. I believe in non-interfering attitude to attain more. 
The Bastiat Award is a journalism award, given annually by the International Policy Network, London. Bastiat Prize entries are judged on intellectual content, the persuasiveness of the language used and the type of publication in which they appear. Rakesh Wadhwa won the 3rd prize (a cash award of $1,000 and a candlestick), in 2006.
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