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 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.
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