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**Jourgenz** · 12-19-2010, 12:58 AM

From CATO institute analysis:

http://www.scribd.com/doc/31267826/A...olicy-Analysis

Fisher used retail alcohol prices to demonstrate that Prohibition was working by raising the price and decreasing the
quantity produced. However, his price quotations also revealed that the Iron Law of Prohibition was at work. The price
of beer increased by more than 700 percent, and that of brandies increased by 433 percent, but spirit prices in creased
by only 270 percent, which led to an absolute in crease in the consumption of spirits over pre-Prohibition levels. Inflation hasn't increased by anything close to that.

12-19-2010, 12:58 AM	#6
Jourgenz Join Date Nov 2005 Posts 451 Senior Member	From CATO institute analysis: http://www.scribd.com/doc/31267826/A...olicy-Analysis Fisher used retail alcohol prices to demonstrate that Prohibition was working by raising the price and decreasing the quantity produced. However, his price quotations also revealed that the Iron Law of Prohibition was at work. The price of beer increased by more than 700 percent, and that of brandies increased by 433 percent, but spirit prices in creased by only 270 percent, which led to an absolute in crease in the consumption of spirits over pre-Prohibition levels. Inflation hasn't increased by anything close to that.
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