CNBC does a recap of the consequences of the prohibition of alcohol 100 years ago.
Don’t worry though. This is totally an isolated case. There are no lessons to learn about any other thing here.
Mass Production Equals Mass Consumption
[R]elative shares in national income have remained substantially constant over the last hundred years. This, however, is true only if we measure them in money. Measured in real terms, relative shares have substantially changed in favor of the lower income groups. This...