Great Moments in Law and Economics
Stevens: What is your view on the effect [of allowing medical marijuana users to grow their own drugs for personal use] on the interstate market [for marijuana]? Increase prices, no effect on prices, or decrease in prices?(From Lawrence Solum's detailed account of oral arguments, which is very interesting. Also see this piece by Slate's Dahlia Lathwick. And Barnett himself will likely be blogging on the case soon at the Volokh Conspiracy.)
Barnett: Can I choose trivial reduction of price?
Stevens: If you reduce demand, then you will reduce prices? Wouldn't it increase prices?
Barnett: No, if you reduce demand, you reduce price.
Stevens: Are you sure?