Prohibition and The Fall of the Russian Empire
05 Aug 2021 Leave a comment
in defence economics, economic history, economics of regulation, war and peace Tags: meddlesome preferences, nanny state, prohibition, Russia
An anti-prohibition rally with attitude
01 Jan 2016 Leave a comment
in economics of regulation, health economics Tags: alcohol regulation, marijuana decriminalisation, medical marijuana decriminalisation, prohibition
Al Capone was taking in about $105,000,000 a year in the 1920s
02 Jan 2015 Leave a comment
in economics of media and culture, economics of regulation, politics - USA Tags: Al Capone, black markets, prohibition
In these more prudish times, anti-prohibitionists cannot be this blunt about personal liberty
22 Dec 2014 Leave a comment
Anti-prohibition demonstrators were in-your-face about what they wanted
07 Dec 2014 Leave a comment
in applied welfare economics, economics of regulation, law and economics, liberalism Tags: drug decriminalisation, expressive voting, marijuana decriminalisation, prohibition
Enough taxation can reduce legal marijuana consumption to current regulated levels, and spare us the war on drugs
09 Apr 2014 Leave a comment
in applied welfare economics, law and economics, public economics Tags: illegal goods, marijuana, prohibition
The economics of illegal goods weighs extremely heavily in favour of legalization and taxation rather than banning and enforcing, as Gary Becker, Kevin Murphy, and Michael Grossman outline in The Economic Theory of Illegal Goods: The Case of Drugs (NBER Working Paper, 1994).
….If the government seeks to regulate the quantity of marijuana consumed, it should choose to do so with a pricing mechanism such as taxation (from which it can earn revenue) rather than a ban (which is costly to enforce). The result is otherwise the same.
Utopia, you are standing in it! 
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