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The Economic Case against Drug Prohibition

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  • Jeffrey A. Miron
  • Jeffrey Zwiebel

Abstract

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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File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.9.4.175
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Bibliographic Info

Article provided by American Economic Association in its journal Journal of Economic Perspectives.

Volume (Year): 9 (1995)
Issue (Month): 4 (Fall)
Pages: 175-192

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Handle: RePEc:aea:jecper:v:9:y:1995:i:4:p:175-92

Note: DOI: 10.1257/jep.9.4.175
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  1. Frank J. Chaloupka & Adit Laixuthai, 1997. "Do Youths Substitute Alcohol and Marijuana? Some Econometric Evidence," Eastern Economic Journal, Eastern Economic Association, vol. 23(3), pages 253-276, Summer.
  2. Silverman, Lester P. & Spruill, Nancy L., 1977. "Urban crime and the price of heroin," Journal of Urban Economics, Elsevier, vol. 4(1), pages 80-103, January.
  3. Miron, Jeffrey A & Zwiebel, Jeffrey, 1991. "Alcohol Consumption during Prohibition," American Economic Review, American Economic Association, vol. 81(2), pages 242-47, May.
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