With its huge jackpots and heartwarming rags-to-riches stories, the lottery has become the hope and dream of millions of Americans--and the fastest-growing source of state revenue. Despite its popularity, however, there remains much controversy over whether this is an appropriate business for state government and, if so, how the business should be conducted.

Charles Clofelter is Professor of Public Policy Studies and Economics at Duke University. He is also Research Associate of the National Bureau of Economic Research.

Philip Cook is Professor of Public Policy Studies and Economics at Duke University.

Read More by Charles Clotfelter:

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