Episode 106: Are Lotteries Justifiable?

State lotteries are a 12-figure business in the US of A. Americans spend more money on lottery tickets than on books, video games, recorded music, movie and sports tickets combined. Of course, lottery revenue is allocated to public goods like schools and parks, but it’s a double-edged sword, as lotteries are disproportionately funded by the poorest third of households, i.e., the people who can least afford them. Mark takes Joe through the checkered history of lotteries, their pros and cons, and the role they might play in the lives of all those people who trade their hard-earned dollar for an elusive dream.