IDENTIFICATIONS

1. Pigouvian Tax
2. Imperfect Self-Command
3. Positive/Negative Feedback
4. Dynamic Concentration
5. Price-Elasticity of Demand

SHORT-ANSWER QUESTIONS

1. Select one currently illicit drug and list two advantages and two disadvantages of legalizing it. Also, list two decisions (in terms of regulations, restrictions, taxation, etc.) that would have to be made concerning the post-legalization policy towards that drug.
2. What factors determine the total social harm done by a drug? Name a policy intervention aimed at each factor.
3. How does the phenomenon of replacement make drug law enforcement different from enforcement of laws against theft and assault?
4. According to David Kennedy, what additional steps (beyond dynamic concentration) are necessary to the successful execution of a Drug Market Intervention?
5. John Stuart Mill wrote, “The only purpose for which power can rightfully be exercised over any member of a civilized community, against his will, is to prevent harm to others. His own good, either physical or moral, is not a sufficient warrant.” Explain the application of this idea to drug policy, and identify two characteristics of the use of psychoactives that might make the application of Mill’s principle problematic.