THE POTENCY OF ILLEGAL DRUGS

The high potency of narcotics is used as a justification for making th em illegal. An economic analysis of drug potency shows that public pol icies such as excise taxes and prohibitions provide the incentives to make and consume more potent drugs and that such policies provide an e conomic ''gateway'' for the introduction of new highly potent drugs. H istorical evidence from national alcohol prohibition and the war on dr ugs supports these findings.