"Most people have never really met crystal meth; sure, they talk about it on the news a lot, but how many average Americans know anyone who is a meth user? The drug goes by many names: methylamphetamine, N-methylamphetamine, desoxyephedrine, speed, and — most commonly — meth. Regardless of what it is called, methamphetamine is absolutely one of the most dangerous and addictive drugs on the black market today.... economics provides the best explanation for the surge in popularity of meth despite the disproportionate danger of its use. Increased enforcement of drug laws, backed by increased penalties, led to higher prices and decreased availability of preferred recreational drugs such as marijuana and cocaine. High prices and periodic shortages led drug dealers and consumers to find substitutes — ersatz goods that would produce similar results but at a lower cost.
The scourge of crystal meth is another example of the "potency effect" or what has been called the "iron law of prohibition." When government enacts a prohibition, increases enforcement, or increases penalties on a good such as alcohol or drugs, it inevitably results in substitution to more adulterated, more potent, and more dangerous drugs."
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by Mark Thorton on Mises.org
by Mark Thorton on Mises.org
Eric Sharp,Regular Columnist, THL
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