Rob MacCoun on growing your own cannabis legalization

Stop right now and read Rob MacCoun’s essay on cannabis legalization. Whether or not you’re actually interested in the issue – more exciting than it is important – Rob’s piece shows how policy analysis is done. In particular, he focuses on what advocates almost always deny: the fact that policy choices involve tradeoffs among competing values.

Let me offer one technical amendment to what Rob says: in my view, high taxes – as long as they allow prices close to current illicit prices – will decrease health risk and also increase revenue.