Have We Lost the War on Drugs? – Gary Becker and Kevin Murphy – WSJ 2013

One moderate alternative to the war on drugs is to follow Portugal’s lead and decriminalize all drug use while maintaining the illegality of drug trafficking. Decriminalizing drugs implies that persons cannot be criminally punished when they are found to be in possession of small quantities of drugs that could be used for their own consumption.

Decriminalization would reduce the bloated U.S. prison population since drug users could no longer be sent to jail.

Decriminalization would make it easier for drug addicts to openly seek help from clinics and self-help groups, and it would make companies more likely to develop products and methods that address addiction…

A study published in 2010 in the British Journal of Criminology found that in Portugal since decriminalization, imprisonment on drug-related charges has gone down; drug use among young persons appears to have increased only modestly, if at all; visits to clinics that help with drug addictions and diseases from drug use have increased; and opiate-related deaths have fallen.

Have We Lost the War on Drugs? – WSJ.

On what is asserted without evidence – Christopher Hitchens

https://twitter.com/famousquotenet/status/538644039977811968

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Forecasting errors: road traffic growth forecasts

Alchian and Demsetz define the classic capitalist firm

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What occupations are the most dangerous?

via John Lott’s Website: What occupations are the most dangerous?.

Avoiding Lost Decades: European Edition | Econbrowser

useupix1

via Avoiding Lost Decades: European Edition | Econbrowser.

Friday afternoon video: Adam Smith’s man of system

Knowledge Problem

Lynne Kiesling

Adam Smith’s “man of system” is one of my favorite metaphors for a policymaker who is so taken with imposing his vision of society that he treats the individuals in it like pieces on a chessboard, ignoring the fact that each one of them has his or her own principles, values, and autonomy — his or her own “laws of motion”, in Smith’s language. The man of system sees individuals as pieces of a system, as means to an end, which is his vision of a planned, ordered society.

Our friends at Learn Liberty and philosopher Jim Otteson have collaborated on a short and evocative video explaining the man of system and the consequences of his actions.

Something thought-provoking for your weekend. Look for the man of system; he’s everywhere in policy today, to our detriment.

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More on Recent Evidence on the Effects of Minimum Wages in the United States

Differentiating Between Global Cooling Winters And Global Warming Winters

Real Science

Forty years ago, experts said that cold, snowy winters in the East were caused by global cooling and excess Arctic ice – but now they are caused by global warming and a deficiency of Arctic ice. Isn’t science grand?

ScreenHunter_4823 Nov. 26 19.43

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The IEA Says Peak Oil Is Dead. That’s Bad News for Climate Policy

Peak oil is a fallacy that will never die

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