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Iron Law Of Prohibition
The iron law of prohibition is a term coined by Richard Cowan in 1986 which posits that as law enforcement becomes more intense, the potency of prohibited substances increases. Cowan put it this way: "the harder the enforcement, the harder the drugs." This law is an application of the Alchian–Allen effect; Libertarian judge Jim Gray calls the law the "cardinal rule of prohibition", and notes that is a powerful argument for the legalization of drugs. It is based on the premise that when drugs or alcohol are prohibited, they will be produced in black markets in more concentrated and powerful forms, because these more potent forms offer better efficiency in the business model—they take up less space in storage, less weight in transportation, and they sell for more money. Economist Mark Thornton writes that the iron law of prohibition undermines the argument in favor of prohibition, because the higher potency forms are less safe for the consumer. Findings Thornton publish ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cocaine Hidden In Machinery (4967397108)
Cocaine is a tropane alkaloid and central nervous system stimulant, derived primarily from the leaves of two South American coca plants, ''Erythroxylum coca'' and ''Erythroxylum novogranatense, E. novogranatense'', which are cultivated almost exclusively in the Andes. Indigenous peoples of South America, Indigenous South Americans have traditionally used coca leaves for over a thousand years. Notably, there is no evidence that habitual coca leaf use causes addiction or withdrawal, unlike cocaine. Medically, cocaine is rarely employed, mainly as a topical medication under controlled settings, due to its high abuse potential, adverse effects, and expensive cost. Despite this, recreational drug use, recreational use is widespread, driven by its euphoric and aphrodisiac properties. Levamisole induced necrosis syndrome (LINES)-a complication of the common cocaine Lacing (drugs), cutting agent levamisole-and prenatal cocaine exposure is particularly harmful. Street cocaine is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
SAGE Publishing
Sage Publishing, formerly SAGE Publications, is an American Independent business, independent Academic publishing, academic publishing company, founded in 1965 in New York City by Sara Miller McCune and now based in the Newbury Park, California, Newbury Park neighborhood of Thousand Oaks, California. Sage Publishing has offices located across North America, Europe, and the Asia Pacific region. In North America, Sage Publishing has offices in Los Angeles, Washington DC, and Toronto. The European operations are headquartered in London, London, United Kingdom. In the Asia Pacific region, Sage Publishing has established offices in Melbourne, Australia, India and Singapore. It publishes more than 1,000 journals, more than 800 books a year, reference works and electronic products covering business, humanities, social sciences, science, technology and medicine. SAGE also owns and publishes under the imprints of Corwin Press (since 1990), CQ Press (since 2008), Learning Matters (since ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1986 In Economic History
The year 1986 was designated as the International Year of Peace by the United Nations. Events January * January 1 ** Aruba gains increased autonomy from the Netherlands by separating from the Netherlands Antilles. ** Spain and Portugal enter the European Community, which becomes the European Union in 1993. * January 11 – The Sir Leo Hielscher Bridges, Gateway Bridge in Brisbane, Australia, at this time the world's longest prestressed concrete free-cantilever bridge, is opened. * January 13–January 24, 24 – South Yemen Civil War. * January 20 – The United Kingdom and France announce plans to construct the Channel Tunnel. * January 24 – The Voyager 2 space probe makes its first encounter with Uranus. * January 25 – Yoweri Museveni's National Resistance Army Rebel group takes over Uganda after leading a Ugandan Bush War, five-year guerrilla war in which up to half a million people are believed to have been killed. They will later use January 26 as the official date ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prohibition
Prohibition is the act or practice of forbidding something by law; more particularly the term refers to the banning of the manufacture, storage (whether in barrels or in bottles), transportation, sale, possession, and consumption of alcoholic beverages. The word is also used to refer to a period of time during which such bans are enforced. History Some kind of limitation on the trade in alcohol can be seen in the Code of Hammurabi () specifically banning the selling of beer for money. It could only be bartered for barley: "If a beer seller do not receive barley as the price for beer, but if she receive money or make the beer a measure smaller than the barley measure received, they shall throw her into the water." A Greek city-state of Eleutherna passed a law against drunkenness in the 6th century BCE, although exceptions were made for religious rituals. In the early twentieth century, much of the impetus for the prohibition movement in the Nordic countries and North America ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics Laws
Economic law is a set of legal rules for regulating economic activity.Ferdinand Joseph Maria Feldbrugge, Gerard Pieter van den Berg, William B. Simons (1985) "Encyclopedia of Soviet Law", ''Brill Publishers, BRILL'', O. S. (Olimpiad Solomonovich) Ioffe, Mark W. Janis (1987) "Soviet Law and Economy", Martinus Nijhoff Publishers, Economics can be defined as "a social science concerned with the production, distribution, and consumption of goods and services." The regulation of such phenomena, law, can be defined as "customs, practices, and rules of conduct of a community that are recognized as binding by the community", where "enforcement of the body of rules is through a controlling authority." Accordingly, different states have their own legal infrastructure and produce different provisions of goods and services. Economic systems The objective of economic law is to address the logistics of production and distribution. Within each political and economic system, there are differe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Expenditure Minimization Problem
In microeconomics, the expenditure minimization problem is the dual of the utility maximization problem: "how much money do I need to reach a certain level of happiness?". This question comes in two parts. Given a consumer's utility function, prices, and a utility target, * how much money would the consumer need? This is answered by the expenditure function. * what could the consumer buy to meet this utility target while minimizing expenditure? This is answered by the Hicksian demand function. Expenditure function Formally, the expenditure function is defined as follows. Suppose the consumer has a utility function u defined on L commodities. Then the consumer's expenditure function gives the amount of money required to buy a package of commodities at given prices p that give utility of at least u^*, :e(p, u^*) = \min_ p \cdot x where :\geq = \ is the set of all packages that give utility at least as good as u^*. Hicksian demand correspondence Hicksian demand is define ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Euler's Homogeneous Function Theorem
In mathematics, a homogeneous function is a function of several variables such that the following holds: If each of the function's arguments is multiplied by the same scalar, then the function's value is multiplied by some power of this scalar; the power is called the degree of homogeneity, or simply the ''degree''. That is, if is an integer, a function of variables is homogeneous of degree if :f(sx_1,\ldots, sx_n)=s^k f(x_1,\ldots, x_n) for every x_1, \ldots, x_n, and s\ne 0. This is also referred to a ''th-degree'' or ''th-order'' homogeneous function. For example, a homogeneous polynomial of degree defines a homogeneous function of degree . The above definition extends to functions whose domain and codomain are vector spaces over a field : a function f : V \to W between two -vector spaces is ''homogeneous'' of degree k if for all nonzero s \in F and v \in V. This definition is often further generalized to functions whose domain is not , but a cone in , that is, a su ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Homogeneous Function
In mathematics, a homogeneous function is a function of several variables such that the following holds: If each of the function's arguments is multiplied by the same scalar (mathematics), scalar, then the function's value is multiplied by some power of this scalar; the power is called the degree of homogeneity, or simply the ''degree''. That is, if is an integer, a function of variables is homogeneous of degree if :f(sx_1,\ldots, sx_n)=s^k f(x_1,\ldots, x_n) for every x_1, \ldots, x_n, and s\ne 0. This is also referred to a ''th-degree'' or ''th-order'' homogeneous function. For example, a homogeneous polynomial of degree defines a homogeneous function of degree . The above definition extends to functions whose domain of a function, domain and codomain are vector spaces over a Field (mathematics), field : a function f : V \to W between two -vector spaces is ''homogeneous'' of degree k if for all nonzero s \in F and v \in V. This definition is often further generalized to f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Elasticity (economics)
In economics, elasticity measures the responsiveness of one economic variable to a change in another. For example, if the price elasticity of the demand of a good is −2, then a 10% increase in price will cause the quantity demanded to fall by 20%. Elasticity in economics provides an understanding of changes in the behavior of the buyers and sellers with price changes. There are two types of elasticity for demand and supply, one is inelastic demand and supply and the other one is elastic demand and supply. Introduction The concept of price elasticity was first cited in an informal form in the book ''Principles of Economics (Marshall book), Principles of Economics'' published by the author Alfred Marshall in 1890. Subsequently, a major study of the price elasticity of supply and the price elasticity of demand for US products was undertaken by Joshua Levy and Trevor Pollock in the late 1960s. Elasticity is an important concept in neoclassical economic theory, and enables in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Effect
The theory of consumer choice is the branch of microeconomics that relates preferences to consumption expenditures and to consumer demand curves. It analyzes how consumers maximize the desirability of their consumption (as measured by their preferences subject to limitations on their expenditures), by maximizing utility subject to a consumer budget constraint. Factors influencing consumers' evaluation of the utility of goods include: income level, cultural factors, product information and physio-psychological factors. Consumption is separated from production, logically, because two different economic agents are involved. In the first case, consumption is determined by the individual. Their specific tastes or preferences determine the amount of utility they derive from goods and services they consume. In the second case, a producer has different motives to the consumer in that they are focussed on the profit they make. This is explained further by producer theory. The models ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hicksian Demand Function
In microeconomics, a consumer's Hicksian demand function (or compensated demand function) represents the quantity of a good demanded when the consumer minimizes expenditure while maintaining a fixed level of utility. The Hicksian demand function illustrates how a consumer would adjust their demand for a good in response to a price change, assuming their income is adjusted (or compensated) to keep them on the same indifference curve—ensuring their utility remains unchanged. Mathematically, :h(p, \bar) = \arg \min_x \sum_i p_i x_i : \ \ u(x) \geq \bar . where h(p,u) is the Hicksian demand function or commodity bundle demanded, at price vector p and utility level \bar. Here p is a vector of prices, and x is a vector of quantities demanded, so the sum of all p_ix_i is the total expenditure on all goods. The Hicksian demand function isolates the effect of relative prices on demand, assuming utility remains constant. It contrasts with the Marshallian demand function, which acco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fentanyl
Fentanyl is a highly potent synthetic piperidine opioid primarily used as an analgesic (pain medication). It is 30 to 50 times more Potency (pharmacology), potent than heroin and 50 to 100 times more potent than morphine. Its primary Medicine, clinical utility is in pain management for cancer patients and those recovering from painful surgeries. Fentanyl is also used as a sedative. Depending on the method of delivery, fentanyl can be very fast acting and ingesting a relatively small quantity can cause overdose. Fentanyl works by activating μ-opioid receptors. Fentanyl is sold under the brand names Actiq, Duragesic, and Sublimaze, among others. Pharmaceutical fentanyl's adverse effects are similar to those of other opioids and narcotics including addiction, confusion, hypoventilation, respiratory depression (which, if extensive and untreated, may lead to respiratory arrest), drowsiness, nausea, visual disturbances, dyskinesia, hallucinations, delirium, a subset of the latte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
