Libertarian economist Milton Friedman was a noted critic of America’s Drug War, pointing out all of the reasons why prohibition doesn’t work. One such reason: When a substance is illegal, the price will rise to accommodate the risk; the higher price and promise of greater profit encourages more lawbreakers.
Too bad Friedman didn’t live long enough to see his argument confirmed.
In a recent Washington Post story about drugs and Mexico, I came across the following interesting tidbit:
Farmers in the storied “Golden Triangle” region of Mexico’s Sinaloa state, which has produced the country’s most notorious gangsters and biggest marijuana harvests, say they are no longer planting the crop. Its wholesale price has collapsed in the past five years, from $100 per kilogram to less than $25.
“It’s not worth it anymore,” said Rodrigo Silla, 50, a lifelong cannabis farmer who said he couldn’t remember the last time his family and others in their tiny hamlet gave up growing mota. “I wish the Americans would stop with this legalization.”