best common-sense question asked at my law and econ seminar today

“Why can’t I lease an engagement ring and use the savings to buy a much bigger wedding ring?”

— In discussion of a workshop version of this excellent and intriguing paper, on the leasing of antiquities as an alternative to the very broken bans on trade in antiquities, and the resulting black market (which is not only inefficient, but destroys irreplaceable art.)1

  1. second link is to jstor and may not be available to everyone, sorry. It is “The Economics of Antiquities Looting and a Proposed Legal Alternative”, by Lisa Borodkin, in the Columbia Law Review. []