fax-321-2119 Paper to be presented at the Southern Economic Association Convention, New Orleans, Louisiana, November 2002Prohibition vs. Legalization: Do Economists Reach a Conclusion on Drug Policy? The policy of prohibiting the sale and consumption of cocaine, heroin, and marijuana is of great public interest, with much public debate about the effectiveness of the “war on drugs ” and alternative policies such as legalization, decriminalization, drug treatment, and medical marijuana. Economists have been at the forefront of criticizing the effectiveness of the war on drugs, drawing attention to its “unintended consequences” such as violent crime and corruption, and proposing alternative policies such as drug legalization and decriminalization
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