“…The state could lose money on any individual lot but was statistically guaranteed it would come out on
top in the long run. Stigler follows the Loterie from its curious inception to a 1776 expansion, to its interruption during the French Revolution (but only with the Terror of 1793), to its renewal in 1797 and further expansion, and finally to its suppression in 1836, examining throughout the wider question of how members of the public came to trust in new financial technologies and believe in their value"--…”
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