The midterm [no, not that type] elections are just a week and a half away, which means that judgment day for controversial proposition 19, medical marijuana legalization in the state, is approaching fast. A number of high-profile proponents have been speaking out on both sides, including your average dose of political crazy claims.
But there are also some very well-thought out ideas for both supporting and opposing the proposition. Hoover Fellow Joseph McNamara, who supports 19, and Medical School professor Keith Humphreys, debated the issue with STANFORD Magazine.
Definitely worth reading if you are a California voter. Some good quotes:
The enormous appeal in just one election of being able to reduce crime so significantly and violence by a yes vote for 19 is a golden opportunity.[… and] maybe the revenue won’t amount to all that much, but when you combine it with the fact that you’ve reduced the cost of the criminal justice system very significantly, that, plus any additional revenue, is something to take seriously.
To say that a legal industry will make the product safer, then you have to say that the tobacco leaf is more dangerous than a Marlboro. It is the legal industry that makes that raw tobacco leaf into a deadly product.[… Plus,] the price of marijuana will fall dramatically and people will buy more of it, as they do with any commodity that drops in price.
Again, read the whole thing here.