This Article Figures Only Full Text (HTML) Reprint (PDF) Submit a response to this article Alert me when this article is cited Alert me when Comments are posted Alert me if a correction is posted Services E-mail this article to a friend Similar articles in this journal Similar articles in PubMed Alert me to new issues of the journal Add to My Personal Archive Download to Citation Manager Reprints & Permissions Citing Articles Citing Articles via Web of Science (5) Citing Articles via Google Scholar Google Scholar Articles by Grossman, M. Articles by Shim, K. Search for Related Content PubMed PubMed Citation Articles by Grossman, M. Articles by Shim, K. Related Collections Legal/Regulatory Issues Mental Health/Substance Abuse Politics Determinants Of Health

Drugs, Economics & Policy

Illegal Drug Use And Public Policy

The period from the 1980s to the present has witnessed a lively and unsettled debate concerning the legalization of marijuana, cocaine, heroin, and other illicit substances in the United States. Proponents of legalization argue that the demand for these harmful and potentially addictive substances is not responsive to price. Opponents argue that prices will fall tremendously in a regime characterized by legalization and that the option of legalization and taxation is not feasible. In this paper we summarize theoretical and empirical evidence suggesting that none of these propositions is correct.

                      What's this?