With a little help (ok, actually quite a lot of help) from my friends Lowry Heussler, Jon Caulkins, Keith Humphreys, and Beau Kilmer, and my sister Kelly, I produced an op-ed for the Financial Times on the design of a post-prohibition cannabis control regime.

Here’s the punchline:

A large increase in problem use might be a price worth paying to rid ourselves of the many ills attendant on prohibition. But it is not a price we have to pay. Smarter policies could lead to better outcomes.

Many thanks to Kesewa Hennessy, Deputy Comment Editor at the FT, for a superb job of copy-editing.

One key point, omitted to save space: the system of user-set quotas proposed for cannabis could also apply - should, in my view, be applied - to alcohol and gambling.