Prohibition vs. Legalization: Do Economists Reach a Conclusion on Drug Policy?
Economists have been newsworthy critics of the policy of drug prohibition. This paper seeks to determine if these instances of criticism represent a consensus of professional opinion. A random survey of professional economists suggests that the majority supports reform of drug policy in the direction of decriminalization. A survey of professional economists who have published on the subject of drug prohibition and expressed a policy judgment indicates an even greater consensus which is critical of prohibition and supportive of policy reforms in the direction of decriminalization, and to a lesser extent, legalization.
Volume (Year): 1 (2004)
Issue (Month): 1 (April)
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- Robert J. Barro, 1997. "Getting It Right: Markets and Choices in a Free Society," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262522268, July.
- Paul, Chris & Wilhite, Allen W, 1994. "Illegal Markets and the Social Costs of Rent-Seeking," Public Choice, Springer, vol. 79(1-2), pages 105-115, April.
- Mark Thornton, 1994. "The economics of prohibition," Chapters,in: The Elgar Companion to Austrian Economics, chapter 51 Edward Elgar Publishing.
- Jeffrey A. Miron & Jeffrey Zwiebel, 1995. "The Economic Case against Drug Prohibition," Journal of Economic Perspectives, American Economic Association, vol. 9(4), pages 175-192, Fall.
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