This US survey examines (a) Reclassifying marijuana as a Schedule III drug would lead to measurably higher social welfare
Keyword: drug use
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This European survey examines (a) A legalized and carefully regulated market for cannabis would lead to measurably higher social welfare than a system of prohibition
This week’s IGM Economic Experts Panel poll statements:
A) All else equal, making drugs illegal raises street prices for those drugs because suppliers require extra compensation for the risk of incarceration and other punishments.
B) The Netherlands restrictions on “soft drugs” combined with a moderate tax aimed at deterring their consumption would have lower social costs than continuing to prohibit use of those drugs as in the US. (Click here for a summary of the Netherlands restrictions.)
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