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« If you missed that whole dustup over con law professor Louis Seidman's op-ed . . . | Main | Two for Ph.D. students »

January 08, 2013

"Prohibition: 16 Results"

Nicely done. Conclusion:

It is not enough to simply ban exchanges that have consequences we don’t like. The costs of doing it should be compared with the costs of not doing it. Those costs usually dwarf the costs that would arise from unhindered transactions.

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