The Economic Case against Drug Prohibition
AbstractThis 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.
CitationMiron, 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
- K42 Illegal Behavior and the Enforcement of Law