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Put that in your pipe


Tags Calculation and Knowledge


Many marijuana issues were on ballots in yesterday's election. Marijuana was legalized in Colorado and Washington. The city of Detroit passed a law decriminalizing marijuana possession. The state of Massachusetts passed a medical marijuana law. Several ballot measures involving marijuana were defeated, notably in Oregon and Arkansas.

When my book The Economics of Prohibition was published 20 years ago I was often asked my opinion if marijuana should be or would be legalized. My stock answer was that medical marijuana would start to be legalized in 10 years and that marijuana would be legalized in 20 years, probably during an economic crisis. My only prediction in print was that the reform process would begin after the turn of the century i.e. after the year 2000.

Mark Thornton is a Senior Fellow at the Mises Institute and the book review editor of the Quarterly Journal of Austrian Economics. He has authored seven books and is a frequent guest on national radio shows.

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