No, it's not in error. Do you think the black market in alcohol is proportionally as large as it was during Prohibition?
It is, in fact, "well regulated" anything that gives rise to the "no regulation at all" process.
So the alcohol and tobacco markets have no regulation at all?
It's the primary argument the Libertarian/tine movement(s) use to justify free dope.
However, just because overregulation stimulates a black market, it does not follow that underregulation will destroy the black market. As is all too often the case, there are "regulatory mechanisms" in place of which we are only vaguely aware.
As an example of a "regulatory mechanism" most folks don't think about, think of the young mothers who don't want their kids using dope. Yet, in a totally unregulated (free) market, you would find those young mothers with no lawful process that would, in their minds, protect them and their children from the dopers. One might well anticipate that some (not all), just some of those young mothers would begin turning their communities into rifle ranges ~ often driving by in their SUVs to gundown dopers and their private sector dealers everywhere. If the post office began providing vending machines for the dopers, these same young mothers would begin knocking off post offices.
So, young mothers with children constitute a regulatory mechanism in the dope business we usually don't think about.
Oh, yes, and their husbands? They'll be out there providing covering fire for their young wives protecting their young children.
So, what would the dopers and the Liberatarian/tines do about this fine state of affairs? Would they perhaps send the armed forces out to suppress young mothers?
No doubt that's what they would ask for ~ that's what their hero George Sorros would want ~ sending the army out to gun down young mothers where they stand.
That's just one of the reasons nobody trusts the dopers. They'd misuse normal stuff, not just dope.
He says it's "alive and thriving" ... his evidence being some guy he knows.