May 12, 2005
Steve Levitt on Crack

"Our analysis suggests that the greatest social costs of crack have been associated with the prohibition-related violence, rather than drug use per se."

Paper here.

Posted by E. Frank Stephenson at 03:38 PM in Economics  ·  TrackBack (17)

The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith

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