Legalizing marijuana makes it way less expensive
Recreational marijuana sales have been legal in Washington State for about two years now, and during that time, the price of weed has plummeted. Down from a post-legalization high of about $25 per gram on the retail market, the same amount of pot now costs less than $10.
The economic explanation for this price drop is simple and predictable: The drug war makes the marijuana business dangerous and expensive because, as The Washington Post summarizes, black market drug sellers "must operate covertly, forgo advertising, pay higher wages to compensate for the risk of arrest, and lack recourse to civil courts for resolving contract disputes."
Once marijuana is legalized, these added costs of doing business disappear, making for a cheaper product and safer industry. Similarly, the Prohibition era of the 1920s and '30s caused the price of liquor to roughly triple before the Twenty-First Amendment, ending Prohibition, was passed in 1933.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Bonnie Kristian was a deputy editor and acting editor-in-chief of TheWeek.com. She is a columnist at Christianity Today and author of Untrustworthy: The Knowledge Crisis Breaking Our Brains, Polluting Our Politics, and Corrupting Christian Community (forthcoming 2022) and A Flexible Faith: Rethinking What It Means to Follow Jesus Today (2018). Her writing has also appeared at Time Magazine, CNN, USA Today, Newsweek, the Los Angeles Times, and The American Conservative, among other outlets.
-
Last hopes for justice for UK's nuclear test veterans
Under the Radar Thousands of ex-service personnel say their lives have been blighted by aggressive cancers and genetic mutations
By Sorcha Bradley, The Week UK Published
-
'It may not be surprising that creative work is used without permission'
Instant Opinion Opinion, comment and editorials of the day
By Justin Klawans, The Week US Published
-
5 simple items to help make your airplane seat more comfortable
The Week Recommends Gel cushions and inflatable travel pillows make a world of difference
By Catherine Garcia, The Week US Published
-
Judge blocks Louisiana 10 Commandments law
Speed Read U.S. District Judge John deGravelles ruled that a law ordering schools to display the Ten Commandments in classrooms was unconstitutional
By Peter Weber, The Week US Published
-
ATF finalizes rule to close 'gun show loophole'
Speed Read Biden moves to expand background checks for gun buyers
By Peter Weber, The Week US Published
-
Hong Kong passes tough new security law
Speed Read It will allow the government to further suppress all forms of dissent
By Peter Weber, The Week US Published
-
France enshrines abortion rights in constitution
speed read It became the first country to make abortion a constitutional right
By Peter Weber, The Week US Published
-
Texas executes man despite contested evidence
Speed Read Texas rejected calls for a rehearing of Ivan Cantu's case amid recanted testimony and allegations of suppressed exculpatory evidence
By Peter Weber, The Week US Published
-
Supreme Court wary of state social media regulations
Speed Read A majority of justices appeared skeptical that Texas and Florida were lawfully protecting the free speech rights of users
By Peter Weber, The Week US Published
-
Greece legalizes same-sex marriage
Speed Read Greece becomes the first Orthodox Christian country to enshrine marriage equality in law
By Peter Weber, The Week US Published
-
Trump and his lawyer Alina Habba have a rough day in defamation court
Speed Read Trump's audible grousing as E. Jean Carroll testified earned him a warning he could be thrown out of court, and Habba showed she 'doesn't know what the hell she's doing'
By Peter Weber, The Week US Published