An Economist Gets Stoned : Planet Money Would making drugs legal make them cheaper or more expensive?

An Economist Gets Stoned

Different strains of medical marijuana at Coffeeshop Blue Sky in Oakland, California. Justin Sullivan/Getty Images hide caption

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Justin Sullivan/Getty Images

An Economist Gets Stoned

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On today's Planet Money:

Fourteen states have adopted medical marijuana laws. We talk to Harvard economist, Jeffrey Miron, about what happens when drugs move from the black market to the open market. Do they get 100 times cheaper? Or instead, more expensive? Miron talks about the economics of prohibition, and reveals his drug of choice (which is legal) and one he would like to try (which is not).

Download the podcast; or subscribe. Music: Rick James' "Mary Jane." Find us: Twitter/ Facebook/ Flickr.