In the 15 years I have been spending time in Argentina, I have seen some Argentine kids grow up- and I would have to concur that the general low key argentine attitude towards pot and alcohol seems to produce far better adjusted kids. I almost never see Argentine teens drunk in public, unlike the US or Europe, where its pretty constant. And the Argentine kids I know have a healthy attitude towards drugs, too. Obvio, there are hard drugs in Argentina, and people who are addicted. But compared to the daily sight of completely wiped out people of all ages on the streets of pretty much every US city, I would say the Argentine way works pretty well.
If you have ever been in a restaurant in BA where a group of, say, 20 somethings from the UK comes in, and proceeds to down ten drinks each, while the next table over, Argentine young people finish 2 bottles of wine for 4 people, the differences in outcome are pretty hard to ignore.