Hirschman identified three arguments that are commonly used against proposed "progressive" reforms. One argument contends that the proposed reform will have results exactly the opposite of those intended by the reform's proponents; the second is that the reform will have no effect at all; and the third is that the reform will come at the cost of degrading fundamental rights or values. The labels for these three arguments form the subtitle of Hirschman's book: "Perversity, Futility, Jeopardy." The gun advocates' arguments fit this conceptual pattern. Increasingly, not just in radical fringe groups but in academic circles and mainstream magazines of opinion, the public is told that "laissez faire" is the right policy for the firearms market. Economic analysis shows, however, the flaws in this approach. First, contrary to a standard contention, the criminal justice system does not offer a satisfactory solution to the violent-crime problem. In the vast array of circumstances in which guns are used to harm an innocent party, an unknown but substantial portion are beyond the reach of the criminal justice system. A preventive strategy that incorporates gun regulation cannot be ruled out simply by calling for a crackdown on crime in general. Second, the assertion that all gun controls are futile -- or worse, actually perverse in their effects -- is not persuasive. Although highly motivated people can find their way around almost any regulatory barrier in obtaining a gun, that truism fails to show that regulations are futile. This analysis suggests that moderate controls will reduce the availability of firearms, even to criminals and youths who traffic only in the illicit market, and will likely result in lower social costs from firearm violence. Finally, even if the Second Amendment established a personal right to keep and bear arms, that right is not absolute; for instance, it clearly does not mean that children should be allowed to carry machine guns to school. There remains the necessity of sorting through the costs and benefits to society of proposed regulations, noting that infringement of privacy and individual freedom is a cost that must be given its proper due. 127 footnotes