This is exactly OPPOSITE of the ‘undercut demand option’.
It’s basic economics, isn’t it?
Value increases with rarity. Flooding the market will crater the value.
Most kids can understand that principle.
So, can anyone explain why, instead of working WITH human behavior, New York is doing this?
You’d think the city that is home to Wall Street would have no trouble with leveraging the law of supply and demand in addressing the rhino horn and Ivory issue.
But instead, of flooding the market with artificial horns and Ivory John Stossel they are going the other direction.
Don’t get us wrong — we think poaching is a problem that needs to be solved. We just want to know if THIS is the best way to protect the elephants and rhinos.
Two tons of ivory worth $4.5million was destroyed in Central Park on Thursday in a milestone showcase of New York City’s war on the trade.
Trinkets, statues and jewelry crafted from the tusks of at least 100 slaughtered elephants were fed into a rock crusher in Central Park to demonstrate the state’s commitment to smashing the illegal ivory trade.
The artifacts were placed ceremoniously onto a conveyor belt to be ground into dust included piles of golf-ball-sized Japanese sculptures, called netsuke, intricately carved into monkeys, rabbits and other fanciful designs.
Many of the items were beautiful. Some were extremely valuable.
State environmental officials and Wildlife Conservation Society members, who partnered with Tiffany & Co. for the ‘Ivory Crush’, said no price justifies slaughtering elephants for their tusks.
Not to be a wet blanket or anything, but didn’t that make the rest of those sculptures more valuable?
The article answered that question.
Some critics have argued that destroying ivory could drive up black market prices by increasing scarcity, thus encouraging more poaching. Others argue that it’s wasteful and that it would be better to sell confiscated ivory to pay for conservation efforts in poor African countries.
Wendy Hapgood, founder of Wild Tomorrow Fund, said crushing events send a signal that laws banning the ivory trade will be strictly enforced.
‘It’s a way to tell the world that ivory shouldn’t be coveted, it should be destroyed. It belongs only on an elephant,’ she said.
‘By crushing a ton of ivory in the middle of the world’s most famous public park, New Yorkers are sending a message to poachers, traffickers, and dealers who try to set up shop right here on our streets,’ said John Calvelli, the Society’s executive vice president and director of the 96 Elephants Campaign. —DailyMail
Is that argument sound? Or do you find them unconvincing?
Let us know which way you think they should go on this issue.
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