Journal of Economic Perspectives: Vol. 9 No. 4 (Fall 1995)


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The Economic Case against Drug Prohibition

Article Citation

Miron, Jeffrey A., and Jeffrey Zwiebel. 1995. "The Economic Case against Drug Prohibition." Journal of Economic Perspectives, 9(4): 175-192.

DOI: 10.1257/jep.9.4.175


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.

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Miron, Jeffrey A. (Boston U)
Zwiebel, Jeffrey (Stanford U)

JEL Classifications

K42: Illegal Behavior and the Enforcement of Law


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