Drug Prohibition: A Legal and Economic Analysis
12 Pages Posted: 21 Jul 2011
Date Written: July 20, 2011
This paper argues the case for the legalization of addictive drugs such as marijuana, cocaine, and heroin. It maintains that there are no “market failures” which could justify a banning of these substances, and that, as in the earlier historical case of prohibition of alcohol, our present drug policy has increased crime, decreased respect for legitimate law, and created great social upheaval.
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