The case for legalizing drugs

Harvard Economist Jeffrey Miron explains the case for legalizing drugs as the best way to greatly reduce violence.

"The U.S. and Mexican responses to this violence have been predictable: more troops and police, greater border controls and expanded enforcement of every kind. Escalation is the wrong response, however; drug prohibition is the cause of the violence.

Prohibition creates violence because it drives the drug market underground. This means buyers and sellers cannot resolve their disputes with lawsuits, arbitration or advertising, so they resort to violence instead."

"Prohibitions breed disrespect for the law because despite draconian penalties and extensive enforcement, huge numbers of people still violate prohibition. This means those who break the law, and those who do not, learn that obeying laws is for suckers.

Prohibition is a drain on the public purse. Federal, state and local governments spend roughly $44 billion per year to enforce drug prohibition. These same governments forego roughly $33 billion per year in tax revenue they could collect from legalized drugs, assuming these were taxed at rates similar to those on alcohol and tobacco. Under prohibition, these revenues accrue to traffickers as increased profits."