How legalization caused the price of marijuana to collapse
The ongoing decline in marijuana’s price after legalization demonstrates how enormously effective prohibition of production and sale is at raising drug prices
The Washington Post (US)
Tuesday, September 5, 2017
Tuesday, September 5, 2017
All the diverse effects of legalizing recreational marijuana may not be clear for a number of years, but one consequence has become evident almost immediately: Pot has never been so cheap. Steven Davenport of the Pardee Rand Graduate School has analyzed marijuana retail prices in Washington state since legal recreational markets opened in July 2014. Remarkably, prices have fallen every single quarter since. The current retail price of $7.38 per gram (including tax) represents a 67 percent decrease in just three years of the legalization, with more decline likely in the future.
