Thursday, September 25, 2008

THC externality formula

The direct police, court, prison costs of THC criminalization have been estimated conservatively at $400M/yr. Estimated tax revenue foregone with illegalization is $1B/yr. I'll assume decriminalization kills half the former costs and saves society $600M in resources over 3 years that can be freed up to fight rapes and murders. Legalization, $4.2B over 3 years.
Criminalizing the substance makes all other laws a little less just.