Posted by Eugene Volokh:
Whoops:
http://volokh.com/archives/archive_2005_05_15-2005_05_21.shtml#1116276318
[1]Lawrence White (Division of Labour) spots this excerpt from an
exchange between Justice Stevens (a very smart man, incidentally, who
rarely makes mistakes like this) and our own Randy Barnett, in the
oral arguments for [2]Aschroft v. Raich, the medical marijuana
Commerce Clause case:
MR. BARNETT: The only effect [allowing medical marijuana] could
have on the price [of marijuana generally] would be a slight
trivial reduction, if it has any effect at all, because it's going
to withdraw users from the illicit drug market. And to the extent
that they are now in the illicit drug market -- and we don't know
whether they are or not . . . .
JUSTICE STEVENS: Well, that would reduce demand and increase price,
it seems to me. It's the other way around.
MR. BARNETT: Well, it would reduce demand and reduce prices, I
think. But -
JUSTICE STEVENS: If you reduce demand, you reduce prices? Are you
sure?
MR. BARNETT: Yes.
[Laughter.]
JUSTICE STEVENS: Oh, you're right. You're right. Okay. Yeah. Yeah.
References
1. http://divisionoflabour.com/archives/001193.php
2.
http://www.supremecourtus.gov/oral_arguments/argument_transcripts/03-1454.pdf
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