posted by gut
I think it's a given that a not-insignificant number of people will try these drugs (especially coke, acid and pretty much anything not requiring a needle) and a good percentage of them will become addicted.
I doubt it's a not-insignificant number. The stuff is so widely available now, and I honestly doubt there is a notable number of people whose worldview doesn't preclude using harder drugs except for because they're illegal.
posted by gut
Also, it appears the Mexican cartels are targeting underage people more (one of those darned unintended side affects!), and also flooding the market with something called tar(?), which is a far more potent concentrate than legally available. Not to mention the simple fact that the black market is still huge because of the much higher prices resulting from taxes.
Sure. So don't tax, and allow for actual competition. We're seeing what that looks like with CBD now. Not that it isn't regulated, of course, but from a price standpoint, competition is doing what it's supposed to.
posted by gut
I appreciate the good "free market" libertarian arguments, but the reality is key assumptions to the free market theory (such as rational consumers, perfect information, etc) don't actually exist in the real world. While not all regulations are created equal, you still need regulations in order for "free markets" to operate more optimally.
Functionally, I think private watchdogs can do whatever regulating is necessary, but frankly, the only regulation I think is necessary is full disclosure. Effectively, if you sell something to someone, they have the information available to know what's in it.
If Person A wants to buy X, and Person B has X to sell, and both parties have access to the necessary information on what X is, then I don't see why any other regulation or oversight is necessary. Certainly not forceful regulation or oversight, anyway.