What Explains Crystal Meth? - Mark Thornton - Mises Daily

What Explains Crystal Meth? - Mark Thornton - Mises Daily: "During cocaine's heyday, meth was nearly extinct on the illegal market.

This changed with Reagan's 'War on Drugs,' which was effective in raising prices for illegal drugs by imposing greater risks and thus higher costs on production, distribution, and consumption. The initial shock of the war on drugs sent black-market entrepreneurs back to the drawing board; they needed to reduce their risk and their costs. What they came back with included highly potent marijuana, crack cocaine, and crystal meth."

"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."