Legalisation would not only drive away the gangsters; it would transform drugs from a law-and-order problem into a public-health problem, which is how they ought to be treated. Governments would tax and regulate the drug trade, and use the funds raised (and the billions saved on law-enforcement) to educate the public about the risks of drug-taking and to treat addiction. The sale of drugs to minors should remain banned. Different drugs would command different levels of taxation and regulation. This system would be fiddly and imperfect, requiring constant monitoring and hard-to-measure trade-offs. Post-tax prices should be set at a level that would strike a balance between damping down use on the one hand, and discouraging a black market and the desperate acts of theft and prostitution to which addicts now resort to feed their habits.
Everything old is new again
The Economist on how to stop the drug wars: the same way we stopped the alcohol prohibition wars.
Body Count goes to Vegas! Ernest Scherer III was a Vegas loser who fancied himself a professional poker player. Doesn't that photo t...
UPDATE: Edited to remove the guy's name. I hope nobody harasses him or his employer. He was good-natured and his sign was innocuous a...
I talk a lot about inflation. But today was the first time in my life I actually used a dollar bill as toilet paper.