It looks like Keynesian economists finally got something right! Well… sort of anyways. The London School of Economics has put out an 82 page report condemning the war on drugs. The report basically summarizes everything we already know to be true about the war on drugs, so there isn’t much point in going over the details. What is interesting though is that the report was endorsed by five Nobel prize winning economists.
While the report rejects the war on drugs, it then suggests shifting money to treatment programs. I guess if they are hell bent on wasting our money on something, I’d rather have it wasted on treatment than on torture. Reason Magazine has done a nice summary piece on the report that goes over some of its problem statements.
In related news, Mexican cartels are reportedly ceasing to plant marijuana crops because legalization in America has wiped out their profits. Living in CA, I can tell you no one smokes Mexican junk weed out here. Even the hobos would probably turn that crap down.
I love this quote from the article. 50 year-old Rodrigo Silla, a lifelong cannabis farmer, told the Post, “‘I wish the Americans would stop with this legalization.”
As the article notes, when the DEA and cartel farmers agree on something, it’s probably because drug policy is headed in the right direction.