Which economist from University of Chicago argued in favor of demand reduction?
Demand reduction Demand reduction refers to efforts aimed at reducing the public desire for illegal and illicit drugs. The drug policy is in contrast to the reduction of drug supply, but the two policies are often implemented together. Some discussions of demand reduction make a distinction between policies that address single issues (such as public "knowledge-of-harms") or are short-term interventions (such as in-school programs), and those that approach drug demand as a complex issue with multiple social risk factors. Some economists such as Milton Friedman argue that due to the law of supply and demand, reducing demand is the only effective way to reduce drug use long-term. It is questionable, however, whether demand reduction programs actually reduce demand.
Lawrence Summers Lawrence Henry Summers (born November 30, 1954) is an American economist, former Vice President of Development Economics and Chief Economist of the World Bank (1991–93), senior U.S. Treasury Department official throughout President Clinton's administration (ultimately Treasury Secretary, 1999-2001), and former Director of the National Economic Council for President Obama (2009-2010). He is a former President of Harvard University (2001-2006), where he is currently (as of March, 2017) a professor and director of the Mossavar-Rahmani Center for Business and Government at Harvard’s Kennedy School of Government.