I will admit to having inhaled in college, back in the seventies. But marijuana just didn’t do anything for me. I started a lifelong affair with a well-made martini. But now Washington is one of two states that has legalized pot consumption. And good on us, considering the utter failure of the war on drugs. How this is implemented, and whether the feds come down on us, is unknown. Not to mention the effect on the munchies industry.
Are people more likely to buy legally and avoid the hassle of running afoul of the law? Or will they try to avoid taxes by sticking with their current (underground economy) dealers? Will those pushers drive down their prices to keep market share? What are the economics of pot? We’re about to find out.
So, today’s poll:
Read on for the best links of the week and the haiku:
This Week’s Links:
Today’s Econ Haiku:
Apple jobs come home?
I’d gladly pay a bit more
Stem our work crisis