Selling Short

Now I don't know a whole hell of a lot about economics, which means I know about as much as John McCain, but I have always thought that the idea of selling a stock short was outside of the basic purpose of the stock market. Borrowing stock now in order to sell it high and pay for it later at a lower price doesn't sound like "financing American growth;" it sounds like betting on the COME line in craps, i.e., I'm betting you are going to fail. It sounds like gambling with an upside only for the person taking the gamble, and no upside for the company whose stock is being gambled with.

Am I missing something here (I'm sure I am)?