Earl Grinols

Distinguished Professor of Economics - Economics

Contact Information

Campus Phone:  (254) 710-1903
Fax:  (254) 710-6142
Mailing Address:  One Bear Place #98003
Waco, TX  76798-8003
Office Location:  Hankamer #357

Office Hours

Fall 2014
by appointment

Professional Memberships

  • American College of Healthcare Executives
  • American Economic Association
  • American Society of Health Economists
  • Association of Christian Economists
  • Association of Private Enterprise Education
  • Econometric Society
  • IMS Health, IMS Health Services Research Network
  • Internatinional Health Economics Association
  • Review Board, GlobalJournal of Economics
  • Southern Ecnomic Association


Earl L. Grinols (born 1951-) is an American economist, political scientist, and author currently working as Distinguished Professor of Economics at Baylor University. He is best known for his book Gambling in America: Costs and Benefits and his work on the effect of legalized casinos in the United States.

A recognized scholar of the profession, Grinols has been cited by the media and major news outlets including the Economist, Wall Street Journal, Washington Post, New York Times, U.S. News and World Report, USA Today and others. He has reviewed articles and books for over forty presses and publications, and over his career has testified before Congress and numerous statehouses from Maine to Hawaii.

Grinols was born in Bemidji, Minnesota where his father and grandfather were president and vice president of the Grinols Implement and Fuel Company, an enterprise of 70-75 employees. He was raised in St. Paul. Grinols attended the University of Michigan for undergraduate study where he was a James B. Angell scholar, and received two summa cum laude degrees from the University of Minnesota in economics and mathematics. He earned his Ph.D. from MIT in 1977.

Grinols has taught at or held positions with Cornell University, the University of Chicago, the University of Washington, MIT, the University of Illinois, and the Department of the Treasury in addition to Baylor University. He was Senior Economist for the President’s Council of Economic Advisors in the presidency of Ronald Reagan.

During his tenures at Cornell and Illinois, Grinols served as chairman for each university’s faculty benefits committee. He also served in the University senate and other positions of responsibility. He was a founding member and first president of Illini Christian Faculty and Staff and has served two terms as president of The Association of Christian Economists.

He is currently teaching courses in mathematics, healthcare, and microeconomics at Baylor University.

In 1994 testimony to Congress, Grinols was one of the first academicians to recommend the formation of a national commission on gambling. The National Gambling Impact Study Commission was formed two years later in 1996, and issued its report, among other recommendations calling for a moratorium on the expansion of gambling in the United States in 1999.

In 2004 Grinols' third book, Gambling in America: Costs and Benefits, was published by Cambridge University Press. His work "Casinos, Crime, and Community Costs" studied all 3,165 counties in the United States for a twenty year period to establish statistical links between casinos and FBI Index I crime.

In February of 2007, Grinols became somewhat of a celebrity in the Speech and Debate universe. The Public Forum Debate topic for that month was "Resolved: The costs of legalized casino gambling in the Unites States outweigh the benefits." Because of having a high score on Google's PageRank algorithm, Grinols' research was a favorite amongst debaters. Despite having anti-casino conclusions, Grinols' research was used on both sides of the debate, a testament to his credibility some have surmised.


Basic or Discovery Scholarship

"How do Visitors Affect Crime?," Journal of Quantitative Criminology, Vol. 27, (2011), pp. 363-378 (coauthors: David B. Mustard, Melissa B. Staha).

"Patent Replacement and Welfare Gains," Journal of Economic Dynamics and Control, Vol. 35, No. 9, (2011), pp. 1586-1604 (coauthors: Hwan C. Lin).

"Rules of Origin and Gains from Trade," Economic Theory, Vol. 47, No. 1, (2011), pp. 159-173 (coauthors: Peri A. da Silva).

Applied or Integration/Application Scholarship

"A Lesson on How Health Insurance Really Works," (September 2009) (coauthors: Jim Henderson).

Basic or Discovery Scholarship

Health Care for Us All: Getting More for Our Investment, New York: Cambridge University Press, August 2009 (coauthors: James Henderson).

Gambling In America, New York, New York: Cambridge University Press, 2009.

"Industrial Targeting in Free Trade Areas with Policy Independence," Canadian Journal of Economics / Revue Canadienne D'Economique, Vol. 41, No. 3, (August 2008), pp. 795-816 (coauthors: Peri A. da Silva).

"Connecting Casinos and Crime," Econ Journal Watch, Vol. 5, No. 2, (May 2008), pp. 156 - 62 (coauthors: David B. Mustard).

"An Enhancement of Modern Free Trade Area Theory," Oxford Economic Papers, Vol. 59, No. 2, (April 2007), pp. 219-225 (coauthors: Peri Silva).

"Replace Pharmaceutical Patents Now," PharmacoEconomics, Vol. 25, No. 5, (2007), pp. 355-363 (coauthors: James Henderson).

"Global Patent Protection: channels of North & South Welfare Gain," Journal of Economic Dynamics and Control, Vol. 3, No. 2, (2006), pp. 205-227.

"The WTO Impact on International Trade Disputes: An Event History Analysis," The Review of Economics and Statistics, Vol. 88, No. 4, (2006), pp. 613-624 (coauthors: Roberto Perrelli).

"Politics, the WTO, and Trade Disputes," Pacific Economic Review, Vol. 7, No. 2, (2002), pp. 335-357 (coauthors: Roberto Perrelli).

"Consequences of Debt Policy and Open Market Operations in a Stochastically Growing Monetary Economy," International Economic Review, Vol. 39, No. 2, (1998), pp. 495-521 (coauthors: Stephen J. Turnovsky).

Microeconomics, Boston, 1994.

"Increasing Returns and the Gains from Trade," International Economic Review, Vol. 32, No. 4, (1991), pp. 973-984.

"Transfers and the Generalized Theory of Distortions and Welfare," Economica, Vol. 54, No. 216, (1987), pp. 477-492.

Uncertainty and the Theory of International Trade, London, 1987.

"Public Investment and Social Risk-Sharing," European Economic Review, Vol. 29, No. 3, (1985), pp. 303-322.

"Production and Risk Leveling in the Intertemporal Capital-Asset Pricing Model," Journal of Finance, Vol. 39, No. 5, (1984), pp. 1571-1595.

"Monetary Randomness and Investment," Journal of Monetary Economics, Vol. 10, No. 2, (1982), pp. 239-258 (coauthors: Mark L. Gertler).

"An Extension of the Kemp-Wan Theorem on the Formation of Customs Unions," Journal of International Economics, Vol. 11, No. 2, (1981), pp. 259-233.

Presentations and Proceedings

"Collaboration in Cross-cultural Environments," presented at the 10th ABC Europe Convention: Researching Business Communication, Antwerp, Belguim, May 2010 (coauthors: Anne Grinols).
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