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RAND study (foolishly?) tries to forecast impact of pot legalization in California

By Douglas A. Berman

As detailed in this local newspaper article and this official press release, the RAND Corporation has produced this new study that examines many issues raised by proposals to legalize marijuana in California.  Here are the basics: Legalizing pot may drop the price of a marijuana cigarette to as little as $1.50 in California, but taxing weed may create a whole new black market, according to a new RAND Corp. study. The six-month study, released Wednesday by the renowned Santa Monica-based think tank, provides fuel for both sides of the debate over whether California should legalize marijuana for recreational use. The study said legalizing marijuana in California would drop the price of pot by more than 80 percent and increase consumption...continue to full post

Full post as published by Sentencing Law and Policy on July 09, 2010 (boomark / email).