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Economists in the 1920s argued in favour of Prohibition. But economics didn’t yet have the idea of the β€œrational criminal”, which helps explain why the ban was so widely flouted.

Economists in the 1920s argued in favour of Prohibition, the short-lived attempt to ban sales of alcohol in the United States. They were worried about drunkenness affecting productivity. But economics didn’t yet have the idea of the β€œrational criminal”, which helps to explain why Prohibition was so widely flouted. Now debates are raging about whether cannabis should continue to be prohibited. Tim Harford reveals how a branch of economics called public choice theory has a surprising explanation for why alliances in favour of banning things can command such wide support.

Producer: Ben Crighton
Editor: Richard Vadon

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14 minutes

Broadcasts

  • Wed 20 Nov 2019 13:45
  • Fri 2 Oct 2020 23:30

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