This paper discusses the costs and benefits of drug prohibition. It offers a detailed outline of the economic consequences of drug prohibition and a systematic analysis of the relevant empirical evidence. The bottom line is that a relatively free market in drugs is likely to be vastly superior to the current policy of prohibition.
- Study Author(s):
- Jeffrey A. Miron and Jeffrey Zwiebel
- Journal Name:
- The Journal of Economic Perspectives
- Publication Date:
- Vol. 9, No. 4 (Autumn, 1995)