“Many individuals in government don't seem to understand the laws of economics. Most of them — aside from those in Congress — seem to be concentrated in the area of 'drug enforcement'. They often brag at news conferences that their interception of drugs between producer and consumer has raised the 'street value' of the drugs, meaning that the drugs are now scarcer than they were. What these statists stubbornly refuse to acknowledge is that this only increases the market incentive to cash in on those higher prices by making up for the artificial scarcity.”

"Some Random Thoughts About the War On Drugs".

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "Many individuals in government don't seem to understand the laws of economics. Most of them — aside from those in Congr…" by L. Neil Smith?
L. Neil Smith photo
L. Neil Smith 99
American writer 1946

Related quotes

Shirley Chisholm photo

“Congress seems drugged and inert most of the time.”

Shirley Chisholm (1924–2005) American politician

Even when the problems it ignores build up to crises and erupt in strikes, riots, and demonstrations, it has not moved. Its idea of meeting a problem is to hold hearings or, in extreme cases, to appoint a commission.
Source: Unbought and Unbossed (1970), p. 104.

“The choice is not between drugs and no drugs, but between illegal drugs and legal drugs. Until the 1920s drugs were legal, why not now? Lots of people are on drugs anyway — it is called medication.”

David Hockney (1937) British artist

Interview with Jasper Gerard, "Taking the fight to the dreary people," The Sunday Times (London) (2 October 2005)
2000s

James P. Gray photo

“Every time the penalties for selling drugs are raised, adult drug traffickers have an extra incentive to recruit children for their drug transactions.”

James P. Gray (1945) American judge

Source: Why Our Drug Laws Have Failed and What We Can Do About It: A Judicial Indictment of the War on Drugs, 2011, p. 53

David Boaz photo
Jerzy Kosiński photo
Milton Friedman photo

“If you look at the drug war from a purely economic point of view, the role of the government is to protect the drug cartel. That's literally true.”

Milton Friedman (1912–2006) American economist, statistician, and writer

One role of prohibition is in making the drug market more lucrative.
America's Drug Forum interview (1991)

James P. Gray photo
Virgil Miller Newton photo
Jimmy Carter photo

“Penalties against drug use should not be more damaging to an individual than the use of the drug itself.”

Jimmy Carter (1924) American politician, 39th president of the United States (in office from 1977 to 1981)

Nowhere is this more clear than in the laws against the possession of marijuana in private for personal use.
Message to Congress (2 August 1977)
Presidency (1977–1981)

Related topics