Economic Analysis of Criminal Law, Arguments for Drug Legalization and the Limits of Economic Imperialism

Purpose: The aim of the work was to prove the thesis that the economic imperialism (imperialism of economics) has its limits. These limits were marked within the economic analysis of criminal law, as a manifestation of the imperialism of economics, using the example of the critique of economic arguments for the legalization of drugs. Design/Methodology/Approach: The first part of the work defines the key concepts of imperialism of economics and the economic analysis of law as a manifestation of this imperialism. The second part presents the theoretical background of the economic arguments for legalizing drugs (presented and criticized in the third part of the article) in the form of a characteristic of the economic analysis of criminal law. Findings: The theoretical part shows the limitations of the two main pillars of the economic analysis of law: the instrumental (calculational) rationality of an individual and the economic (utilitarian) effectiveness of the law, against the background of the traditional theory of criminal law (retributivism). Then, in the practical part, the economically motivated postulate of legalizing drugs was opposed, demonstrating the weaknesses of such arguments and presenting an alternative, although also economically well-grounded, scenario of negative social and economic consequences of the end of drug prohibition. Practical Implications: The article draws attention to the theoretical foundations of drug policy. It shows the weaknesses of economic arguments for drug legalization. Originality/Value: The connection between the economic arguments for legalizing drugs and the phenomenon of economic imperialism is rarely seen in the literature. The issue of the limits of economic imperialism is also rarely discussed. This article does not exhaust this topic by any means, but it does show that this problem is worth taking up.