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NCJ Number:	161694

Title:	Economics of Legalizing Drugs

Journal:	Atlantic Monthly Dated:(November 1990) Pages:126-132

Author(s):	R J Dennis

Date Published:	1990

Page Count:	6

Type:	Legislation/Policy Analysis

Format:	Article

Language:	English

Country:	United States of America

Annotation:	This article presents an economic analysis of the benefits of legalizing drugs, based on the view that the drug problem is an economic issue rather than a moral, health, or social issue.

Abstract:	Americans want less crime and less profit for inner-city drug dealers and an end to the criminal activities associated with the illegal drug trade. Legalizing the sale of drugs to adults is proposed as the most effective solution to the drug problem. For example, cocaine users should be able to buy it through centers similar to State liquor stores so that the black market profit from cocaine is eliminated. Drug legalization requires a distinction to be made between drugs and drug users, and laws protecting children should be retained in any drug legalization scheme. The major argument against drug legalization is a possible increase in drug use and addiction. The author shows, however, that if reasonable costs are assigned to all aspects of the drug problem, benefits of drug legalization and "peace" will be large enough to offset even a doubling in the number of drug addicts. Social costs of drug use at all levels can be estimated by assuming the United States has about 2 million illicit drug addicts. Drug legalization may increase the number of drug addicts by 25 percent, but the current dollar volume of the drug trade is estimated at approximately $100 billion a year and reducing the economic profit of drug dealing is necessary. Arguments against drug legalization are noted and countered.

Main Term(s):	Drug legalization

Index Term(s):	Cocaine; Cost analysis; Drug abuse; Drug business; Drug dependence; Drug Policy; Drug regulation; Drug Related Crime; Economic analysis of crime

Note:	DCC



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