2015-06-19

To Hell With The Unintended Consequences!

US officials have decided to publicly destroy one ton of illegal ivory, in an effort to reduce poaching.

Now, I'm no PhD economist, so I'll put it to my readers: What happens to the price of something valuable when its supply is reduced?

And a follow-up question: What happens to the supply of something valuable when its price increases?

And, uh... not to put too fine a point on it... How might the supply of ivory be increased?