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The Economic Case against Drug Prohibition

  • Jeffrey A. Miron
  • Jeffrey Zwiebel

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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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. 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.
  2. Jeffrey A. Miron & Jeffrey Zwiebel, 1991. "Alcohol Consumption During Prohibition," NBER Working Papers 3675, National Bureau of Economic Research, Inc.
  3. Frank J. Chaloupka & Adit Laixuthai, 1994. "Do Youths Substitute Alcohol and Marijuana? Some Econometric Evidence," NBER Working Papers 4662, National Bureau of Economic Research, Inc.
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