Send comments, tips,
and suggestions to:
DrugWarRant
Join us on Pete's couch.
couch

DrugWarRant.com, the longest running single-issue blog devoted to drug policy, is published by the Prohibition Isn't Free Foundation
facebooktwitterrss
July 2008
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
28293031  

Archives

Authors

Pandering to Economists

Economics professor N. Gregory Mankiw has an OpEd in the New York Times What If the Candidates Pandered to Economists?
It’s a light piece about how the campaign might be different if McCain and Obama were trying to court the votes of economists, and it includes:

Liberalize Drug Policy
Many economists marry their support of economic freedom with a similar support of personal freedom. Drug policy is a case in point. A 2006 poll of professional economists asked whether the United States should legalize marijuana. Those in favor outnumbered those opposed more than three to one.

Interesting, but it misses the point. It’s not just that economists are more freedom-loving. It’s that they understand economics; they know the immutable laws of supply and demand. From this, they know that drug prohibition won’t (and cannot) work. Period. Anyone who has absorbed even Economics 101 and applied it to the drug war can see this clearly.
The U.S. formulation of drug policy is done with a complete ignorance of economic principles — it’s as stupid as having a space program that never considered the effects of gravity.

Post to Twitter Post to Facebook Post to Reddit Post to StumbleUpon

Comments are closed.