Economic argument that explains the failure of prohibition

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Reference no: EM132296754

The Eighteenth Amendment to the U.S. Constitution was ratified on January 16, 1919. The Amendment prohibited the production, sale, and distribution of intoxicating liquors. However, the crackdown on liquor, now known as Prohibition, was widely regarded as a failure: a flourishing black market for liquor existed in the U.S. at this time. Construct a simple economic argument that explains the failure of Prohibition. Your answer should include a graph.

Reference no: EM132296754

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