“What would evidence-based policy look like? The economics points to three principles, none of which involves naval blockades. First, legalize and tax. Prohibition currently functions as an implicit tax of staggering size. Second, invest in treatment and don’t let up. Reform without re- sources fails. Third, provide credible information about health costs. Becker and Murphy’s 1988 theory of rational addiction shows that addicts respond far more to permanent price changes than to temporary ones.” – Roland Fryer
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