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Economics of sex and drugs - Essay Example

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The National Western stock show in Denver is expected to affect the prices of prostitution services in Denver in several ways particularly due to the fact that there will be an influx of people into the city. It should be noted that in the law of supply and demand which explains…
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Economics of sex and drugs
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Abdulla Al-Reyami 22.03 Economics of sex and drug The influence of the Denver National Western Stock show on Prostitution Introduction
The National Western stock show in Denver is expected to affect the prices of prostitution services in Denver in several ways particularly due to the fact that there will be an influx of people into the city. It should be noted that in the law of supply and demand which explains basic price movements in economics, an increase in the demand for a particular good or service is expected to result in an increase in the price of that good or service as the supply and demand adjust themselves to suit the market conditions. It is; therefore, expected that the people who will be visiting the city of Denver will lead to an imbalance in the market for prostitution and this is bound to create some pressures on the prices for the services. The various dimensions of the effects as well as the movements expected are discussed below in order to have a clear picture on the expected outcomes (Moffatt, Peter and Simon, 681).
Supply and Demand
As has been mentioned above, the first basic effect of the National Western Stock show is the fact that there will be some imbalances in the supply and demand of prostitution services. This is due to the fact that a lot of people are expected to come to the city to show case their products and services while others will be visiting the city in order to experience the show. The first dimension of this influx is that there will be an increase in the demand for prostitution services and this is expected to push the prices upward as the market forces adjust themselves accordingly. It is expected that the prostitutes operating in the city will increase the prices of their services in order to benefit from increased demand for their services (Moffatt, Peter and Simon, 683).
Additionally, the influx of people will bring in people with more disposable income and; therefore, they will be willing to spend their money on various forms of leisure and entertainment such as seeking the services of prostitutes. This will lead to an increase in the prices of the services since they will be willing to pay more than normal in order to access the scarce services. It is; however, important to note that this may not go on for long as the market will adjust itself almost immediately as it is expected that other prostitutes from other cities and localities will also invade the city in order to benefit from offering services to the people at the show. This means that the supply of prostitution services may actually increase and this may put a downward pressure on the prices (Dill 96).
Shadow Prices
The expected increase in the demand for prostitution services and the subsequent reduction of prices as the market corrects itself and due to the influx of other prostitutes from different localities is expected to lead to an increase in the shadow pieces of offering prostitution services. This is due to the fact that the prices for the services will go down and this means that the prostitutes will be earning far much less than if they were engaging in other economic activities in the city. The opportunity cost or the shadow prices will therefore be affected in a negative manner and pushed upwards. The legalization of the trade also influences the prices since a lot of people will seek to enter the market during this period so as to benefit from the new people and this will lead to lower prices, increased shadow prices as well as increased cases of human trafficking (Cho, Dreher, and Neumayer 76).
Human Trafficking
Secondly, the National Stock show would result in an increased in cases of human trafficking as people seek to take advantage of others by introducing them into the world of prostitution in order to benefit from the show (Jose 1). It is important to note that the increased number of people with money to spend on such activities and the subsequent increase in demand and increased prices will lead to a situation where cases of child and adult human trafficking may become prevalent as people seek to fill gap by providing more prostitutes to meet the increased demand. The increase in cases of human trafficking may affect the prices in a negative manner as these new entrants may charge lower prices as they have no control over the process. The human traffickers may want to take advantage of their victims and charge lower prices so that they can attract more customers and thus earn more (Giusta, Tommaso, and Strøm 508).
Critically, the overall supply and demand of prostitution services will increase. The increase in demand is attributed to the influx of guests and attendees for the show. Besides, the long duration of the show serves to increase the demand as opposed to shows scheduled for shorter durations. On the other hand, the supply would initially be limited. However, as the demand grows, more prostitutes will flock the city to meet the demand. Additionally, human trafficking will increase the supply of sex services as sex middlemen would want to make a kill in the presenting opportunity. In overall, both the supply and the demand for prostitution services will increase. I am against the stock show because of the negative consequences it will have on the society compared to the positive economic effects it will generate. Human trafficking is a societal vice and subjugates the freedoms and rights of the victims. Additionally, prostitution is associated with an increase in sexually transmitted infections; thus, affecting the overall health status of the city. Consequently, the labor force will be affected, spiraling into negative economic consequences.
It can; therefore, be argued that the National Western Stock show will affect the prices for prostitution services by exerting upward pressure on them at the beginning but later, bring down the prices due to the market activities such as those of human trafficking as well as entry of new prostitutes from other locations (Dill 96).
Works Cited
Cho, Seo-Young, Axel Dreher, and Eric Neumayer. “Does Legalized Prostitution Increase Human Trafficking?” World Development 41. 1(2013): 67–82. Print.
Dill, Emily. “Sources: Encyclopedia of Prostitution and Sex Work”. Reference & User Services Quarterly 46.3 (2007): 96-96. Web.
Giusta, Marina Della, Maria Laura Di Tommaso, and Steinar Strøm. “Who is watching? The market for prostitution services.” Journal of Population Economics 22.1 (2009): 501–516. Print.
Jose, Chris. “Sex trafficking survivor tells story to help raise awareness in Colorado.” FOX31 DENVER, 19 Feb. 2015. Web. 27 February 2015.
Moffatt, Peter G. and Simon A. Peters. “Pricing Personal Services: An Empirical Study of Earnings In The UK Prostitution Industry”. Scottish J Political Economy 51.5 (2004): 675-690. Web. Read More
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