Currently there is talk about banning rhino hunting because basically poaching has reached the point where it is getting ridiculous.

The hunting lobbies are anti this because, well, they’re hunters. They like shooting things for fun and profit.

One of the arguments they are now raising is that it will increase poaching because it will drive the price of rhino horn up.

Okay let’s think about this one from an economist’s point of view.

Legal, illegal, it doesn’t make much difference. Dagga is illegal, and pretty cheap I hear. Supply is plentiful as it is known as weed for a reason.

What dictates the price of a good is basically supply versus demand. If lots of people want it, and there is a limited supply, the price will rise.

If the supply is plentiful and nobody much wants it, well it isn’t going to go for much.

So what does it say that the price of rhino horn will increase if South Africa bans rhino hunting? Less rhinos are going to get shot, limiting supply.

That is pretty much what we are going for so it isn’t much of an argument against a ban now is it?

I am sympathetic to the idea we should enforce the laws we already have – but if we aren’t doing that a ban probably won’t have much of an effect either way.