How a good column on the bad lottery fell apart
Writing from Miami, Florida A recent column in The Wichita Eagle by Randy Scholfield starts out fine, but falls apart near the end. ("Is the lottery the best bet for workers?" February 24, 2006, available at http://www.kansas.com/mld/kansas/news/columnists/randy_scholfield/13945602.htm.) Mr. Scholfield tells us how the lottery is not a very good bet. He references a survey that tells us how about half of us believe we have a better chance of obtaining a retirement nest egg through winning the lottery rather than by saving and investing. He then tells us that the large majority of those playing the lottery are poor and…