Legalising Drugs Prudently: The Importance of Incentives and Values

Abstract

Various jurisdictions are legalising not just cannabis possession and use, but also large-scale commercial production, distribution and sale. Potential problems with that form of legalization raise questions about how best to implement a legalisation. This paper analyses the interests of the suppliers and regulators to help lawmakers and voters decide what over-arching architecture for legalisation might be prudent. In particular, it suggests banning for-profit companies and/or vesting regulatory authority in an agency that views its mission as protecting heavy users from suppliers’ excesses, rather than serving the interests of the cannabis industry.