This is basic economics that we’ve been aware of, well, forever, but it’s rarely discussed in mainstream media regarding the drug war.
Hereâ€™s the kicker: if drugs sold for that price after taxes in an environment where drugs are legalized, theyâ€™d still be cheaper than drugs sold on the black market. So the legal market would drive illegal producers out of business, there wouldnâ€™t be any of the enforcement costs â€” including huge social costs like mass incarceration â€” that come with drug prohibition, the government would gain considerable new tax revenue, and because the price is the same, consumption of drugs wouldnâ€™t be any different than under prohibition. In short, the best form of prohibition is still worse than legalize-and-tax.
The wording needs some minor tweaks, but the principle is absolutely on track.
Nice to see something like this in the Washington Post.