Another Example of Bullet Control
Yglesias pivots away from today's gun control debate to focus on attempting to reduce the more usual variations of gun violence:
The key thing here is that the use of handguns in gang conflicts is at least in part an equilibrium problem. If two rival organizations are conducting disputes with guns rather than knives and fists, that's worse for both gangs and for the city at large. The legal risks are higher, the risk of death is higher, and up-arming yourself gives you no systematic advantage over rivals. But whole cities get stuck in the bad high-fatality equilibrium because nobody wants to be the guy who brings the knife to a gunfight. Yet at the same time, these gangs are at least in part economic institutions that should be sensitive to the price of production inputs. If bullets get more expensive, you need to start conserving them. And if your rivals have the same problem, then perhaps the citywide basis of competition can ratchet down to a less-deady dynamic of melee rather than drive-by.
(The above video was mentioned by repeated commenters and readers. NSWF because of Mr. Rock's language.)