Just read: ‘Why is a bag of weed always $10, man?’ at FT.com

I love the Undercover Economist. I have his book, I read him at Financial Times. He makes economics accessible to everyone.

In this article, someone asks Tim Harford about why a bag of weed is always $10. You can read the question here…

Dear Economist: Why is a bag of weed always $10 man? | Undercover Economist | FT.com.

And be sure to read the comments. There are only two at this point (economics doesn’t attract a lot of readers, I suppose) and the commenter named Matt gives an excellent answer.

The issue raised isn’t about weed, nor is it about some kind of monopoly that weed sellers have. Rather, it’s about supply and demand. An entertaining and informative read!

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