Dumbo Decision
11/22/2013 | | econ70, Economic forecasting, economist on radio, economist on TV, eisenberg and economics, Eisenberg and housing economics, Eisenberg and public speaking, elephant poaching, Elliot eisenberg, funniest economist, funny housing economist, Graphsandlaughs, graphsandlaughs and eisenberg, housing sales, ivory per elephant, ivory trade, MLS, mortgage banking, Multiple listing service, number of elephants, politics and economics, Public speaking economist, value of ivory
The Friday File: In a moment of economic madness, the US government recently destroyed six tons of ivory, equivalent to the ivory from 2,000 elephants, and worth $16.3 million, or $8,200/elephant. With only 200,000 elephants left and a record 25,000 killed last year, making all existing ivory more valuable by depleting the supply only encourages poaching. Next time, sell the ivory, and with the proceeds purchase and save some elephants!