Friday, August 22, 2014

Marijuana black market thrives

Colorado's marijuana loosening law is almost 8 months old. I say 'loosening,' because the law has many constraints associated with it.

Its always amazing to me that legislators, by and large, are economic ignoramuses. Maybe that's not fair, laws are hammered together compromises. The archetype statist Otto von Bismarck, probably said it best "Laws are like sausages, it is better not to see them being made."

The new freedoms in Colorado did nothing to reduce the size of the black market in marijuana, on the contrary it may have emboldened users, making the market bigger than ever. Why? Here is a more in depth story.

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