The problems derive from the prohibition, which takes several forms. The forms add up for big profits and bad incentives, for which the consumer pays. FDA approval is the first layer of prohibition. Very expensive, this keeps a lot of competitors out. Lots of market (read: pricing) power is conferred to the winners. Great incentive is provided for regulatory capture. The second layer is patent protection. Again, comp…
Can you explain more how competition, availability, and legality will stop the more addiction-prone (low-income, chronic pain among other health problem) parts of society in America from doing drugs and becoming addicted? If I read your argument correctly, it's that the pharma firms will not market it as much and not profit as much. In my mind that's not enough reasoning that people who simply have a bad situation wo…
None of this will be known, though, until certain deregulation and controlled legalization occurs.