Cannabis legalization: good intentions, but is it good policy?
Legalization of cannabis does generate much revenue for the state, but at a cost. The higher the price and taxation, the greater is the revenue, but then the black market’s lower price helps it thrive. Lowering the legal price could undercut the black market, but experience with alcohol shows that lower price increases overall consumption and harm resulting from heavy use.
The recently introduced legislation to legalize nonmedical use of cannabis follows reasonably closely the recommendations of the task force set up last year to advise government on the best way of doing it. But is it really good public policy? The intended goal of legalization is not a single proble...
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