[quote]CrewPierce wrote:
orion wrote:
The point was that people assume that other people would use more drugs because legalization would make them cheaper.
Since legalization would most likely cause prices to rise, demand should fall, as it always does when prices rise.
Since at least non-addictive drugs are luxury items I´d expect their price elasticity to be pretty high.
Fuel prices have risen by a lot yet usage continues to rise. It’s all about what the product is, not simply price.
Lol I hate when econ majors always use the “all other things equal” theory.
I would not arugue that making it legal would make it cheaper, I too think that would be false.[/quote]
As I posted it depends on prize elasticity.
People “need” gas, they do not “need” non addictive drugs, while the must buy gas no matter what the prize they do not need to buy weed.
It does not help you argument that gas prizes-adjusted for inflation have actually fallen or at best remained the same over the last few decades.
So have drug prices by the way.
Finally, the ceteris paribus clause is not a theory but a device to make statements about causal connections without someone having chiming in “yeah, but in real life”…
We get it, economics is all about un-intented consequences.
Such as drug related crimes, drug related corruption private prison companies lobbying for mandatory minimums…