Daily Banter: Sex, Drugs, and Regulation


I don’t know how the US compares to the UK when it comes to counting vice industries in GDP. That being said, the underlying point is the same: the vice economy is huge, and prohibition will not make a dent in it. In addition to grabbing some tax revenue, the government would likely have more opportunities for harm reduction by regulating these industries in a reasonable way. This is the one issue about marijuana being our exemplary vice liberalization: the harm reduction potential on the user side is nearly zero, because marijuana does not harm the vast majority of its users. However, we still have an opportunity to show the possibility of the benefits of ending prohibition on its effects on the drug trade and on local crime that was correlated with drug sales.


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