Economics and Marijuana: Consumption, Pricing and Legalisation
Cambridge University Press
Edition: Illustrated, 11/5/2009
EAN 9780521884952, ISBN10: 0521884950
Hardcover, 440 pages, 22.9 x 15.7 x 2.5 cm
Language: English
Originally published in English
Do marijuana users cut back on consumption when the price rises? To what degree is marijuana consumption related to drinking and tobacco usage? What would happen if marijuana were legalised and taxed in the same way as alcohol and tobacco? Is marijuana priced in a similar way to other goods? Economics and Marijuana deals with these and other questions by drawing on a rich set of data concerning the consumption and pricing of marijuana in Australia, a country where the drug has been decriminalised in some, but not all, states. The book applies the economic approach to drugs to analyse consumption, pricing and the economics of legalising the use of marijuana. The result is a fascinating analysis of this widely used, but little understood illicit drug that provides much needed information and policy advice for a wide range of readers, including economists, policy makers and health professionals.
List of tables
List of figures
Acknowledgements
1. Introduction
2. MICROECONOMETRIC EVIDENCE on MARIJUANA CONSUMPTION
3. THE PRICING OF MARIJUANA
4. MORE ON THE ECONOMIC DETERMINANTS OF CONSUMPTION
5. DECRIMINALISING AND LEGALISING MARIJUANA
6. ARE AUSTRALIANS UNIQUE?
7. PERSPECTIVES
INDEX.
'Ken Clements and Xueyan Zhao do a marvellous job in analysing and explaining the many factors that affect the demand for marijuana, the way it is priced, and the issues arising from legalising this illicit drug. If you were not convinced that economists can improve our understanding of the social problems arising from the use of marijuana, you will be convinced after reading this book.' Paul De Grauwe, Katholieke Universiteit Leuven, Belgium