Which passes the benefit-cost test more easily: Alcohol or marijuana?

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Excerpt:

Now that the War on Drugs seems to be winding down — and it’s about time — we’re going to hear more about the benign effects of smoking pot when compared to the hazards of consuming alcohol. This is a longstanding talking point for legalization advocates — and for many people a handy justification to sign on to the cause. For others, it’s a way to create an equivalence between one of man’s greatest innovations and what amounts to a big waste of time.