Scholarly Comments on Academic Economics

Prohibition vs. Legalization: Do Economists Reach a Conclusion on Drug Policy?

by

*Mark Thornton* received a doctorate in economics from Auburn University in 1989. A revised version of his dissertation was published by the University of Utah Press in 1991 as The Economics of Prohibition. He was editor of the _Austrian Economics Newslet

Abstract

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.

in Do Economists Reach a Conclusion?

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Volume (Issue)
1(1)
Pages
82-105
Published
JEL classification
K42
Keywords
prohibition, crime, addiction, public policy
Article PDF Downloads
11,480 (updated 31 Dec 2011)

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