Running head: THE LIVING WAGE 1 Should Drugs Be Legalized? Danny Acevedo ECO202.33 Professor Fischer Should Drugs Be Legalized? Legalization of drugs has been a highly debatable issue in the contemporary economy. As per economist’s argument, legalizing drugs would help in creating a market for these drugs hence making it a helpful commentary based on consumer demand and choice. In addition, the policy will increase market creation and save the economy huge sums of cash through various ways. The legalized drugs will be taxed to raise revenue hence improving the total income and standards of living. Therefore, legalizing drugs such as heroin, cocaine and marijuana on the governmental level will provide economic benefits regarding millions which will, in turn, boost the economy. Making drugs legal will lead to a reduction of federal and state deficits through the elimination of spending on prohibition enforcement and allowing collection of tax on the legalized drugs. In addition, considering the large power demands that are connected to indoor growing, it is possible that the conceivable boom in cannabis growing could similarly strengthen the drug industry particularly as consumers prefer the fresh grown marijuana. Drugs have inelastic demand since most users are addicted to their usage. An increase in drug prices will only cause a little cut in the consumption level. Therefore, if governments the governments can gain benefits through raising drug prices relatively immediately after legalizing them which. Also, allowing lawful trading of drugs takes into consideration a more nuanced technique than demoralizing drug use through criminalizing ownership and deals. For instance, cocaine is frequently not addictive, and clients have a tendency to be sensitive to price (Chepesiuk, 2000). That implies saddling cocaine might be a viable impediment. Regulation can likewise guarantee quality and that drug clients get the item they need. Drug preclusion expands habit since it makes clients hesitant to search out treatment. The business sector is broken and requires extensive and composed change. Authorizing pot use is a stage in the right course, yet unless the generation and offer of it and different drugs are lawful and directed, very little will change for the individuals who pay the cost of the war on drugs. Prohibition of drugs has not been effective since it has encouraged a violation of civil liberties such as racial profiling and no-nock warrants. It likewise costs a great deal to uphold disallowance, and it implies we can't gather charges on drugs; my appraisals recommend the American governments could enhance their financial plans by at any rate $85 billion yearly by authorizing and taxing all drugs (Husak, 2005). The U.S. request that source nations outlaw drugs imply increased corruption and violence will be reduced. Also, black markets create various undesirable symptoms. Black markets build savagery since purchasers and merchants ...

1. Running head: THE LIVING WAGE 1
Should Drugs Be Legalized?
Danny Acevedo
ECO202.33
Professor Fischer
Should Drugs Be Legalized?
Legalization of drugs has been a highly debatable issue in the
contemporary economy. As per economist’s argument,
legalizing drugs would help in creating a market for these drugs
hence making it a helpful commentary based on consumer
demand and choice. In addition, the policy will increase market
creation and save the economy huge sums of cash through
various ways. The legalized drugs will be taxed to raise revenue
hence improving the total income and standards of living.
Therefore, legalizing drugs such as heroin, cocaine and
marijuana on the governmental level will provide economic
benefits regarding millions which will, in turn, boost the
economy.
Making drugs legal will lead to a reduction of federal and state
deficits through the elimination of spending on prohibition
enforcement and allowing collection of tax on the legalized
drugs. In addition, considering the large power demands that are
connected to indoor growing, it is possible that the conceivable
boom in cannabis growing could similarly strengthen the drug
industry particularly as consumers prefer the fresh grown
marijuana. Drugs have inelastic demand since most users are

2. addicted to their usage. An increase in drug prices will only
cause a little cut in the consumption level. Therefore, if
governments the governments can gain benefits through raising
drug prices relatively immediately after legalizing them which.
Also, allowing lawful trading of drugs takes into consideration
a more nuanced technique than demoralizing drug use through
criminalizing ownership and deals. For instance, cocaine is
frequently not addictive, and clients have a tendency to be
sensitive to price (Chepesiuk, 2000). That implies saddling
cocaine might be a viable impediment. Regulation can likewise
guarantee quality and that drug clients get the item they need.
Drug preclusion expands habit since it makes clients hesitant to
search out treatment. The business sector is broken and requires
extensive and composed change. Authorizing pot use is a stage
in the right course, yet unless the generation and offer of it and
different drugs are lawful and directed, very little will change
for the individuals who pay the cost of the war on drugs.
Prohibition of drugs has not been effective since it has
encouraged a violation of civil liberties such as racial profiling
and no-nock warrants. It likewise costs a great deal to uphold
disallowance, and it implies we can't gather charges on drugs;
my appraisals recommend the American governments could
enhance their financial plans by at any rate $85 billion yearly
by authorizing and taxing all drugs (Husak, 2005). The U.S.
request that source nations outlaw drugs imply increased
corruption and violence will be reduced. Also, black markets
create various undesirable symptoms. Black markets build
savagery since purchasers and merchants can't resolve the
debate with courts, legal counselors, or intervention, so they
swing to firearms. Black markets produce debasement, as well,
since members have a more prominent motivation to pay off
police, prosecutors, judges, and jail monitors. They likewise
restrain quality control, which causes more incidental
poisonings and overdoses.
In conclusion, governments should legalize drugs since there
are more beneficial factors associated with the practice

3. compared to its prohibition. The prohibition of a good does not
take out the business sector for that great (Wilson, 2009). It
may contract the business sector, by raising expenses, price,
however even under unequivocally authorized prohibitions, a
black business sector rises in which generation and drug use
proceed. When a good is made unlawful, there are immediate
social costs required in upholding the law. By implication,
higher authorization makes creation all the more expensive,
which conceivably raises the unit price of supplying the drugs.
The thought behind requirement from a financial perspective is
not as a matter of course to dispense with generation but instead
to include costs which ideally diminish utilization.
References
Chepesiuk, R. (2008). Legalization of Drugs. Databases.
Husak, D., & De Marneffe, P. (2005). The legalization of drugs.
Cambridge University Press.
Wilson, J. Q. (2010). Against the legalization of
drugs. Commentary, 89(2), 21.
ECO202 – Microeconomics
Unit 3 Assignment: The Living Wage
Due: Sunday by 11:59 pm at the end of Unit 3.

4. Should drugs be legalized?
Legalization of drugs such as marijuana, cocaine and heroin
often provokes intense
disagreement among citizens as well as policymakers. Because
legalization would create a
market for these drugs, economists can provide helpful
commentary based on consumer choice
and demand.
To read about the current debate visit:
http://www.drugpolicy.org/news/082307media.cfm
http://www.druglibrary.org/schaffer/debate/debate.htm
Support for legalization does not divide easily along traditional
political viewpoints. For a
conservative group’s argument see the Cato Institute at:
http://www.cato.org/testimony/ct-dbz061699.html
The American Civil Liberties Union (ACLU) discusses the issue
at:
http://www.aclu.org/criminal-law-reform

5. By contrast, the US Department of Justice argues against
legalization at:
http://www.dea.gov/pr/multimedia-
library/publications/speaking_out.pdf
For additional discussion by mainstream economists see:
Brookings Institution (a private research group)
http://www.brookings.edu/research/articles/1996/03/spring-
crime-stares
National Bureau of Economic Research, “Smoking, Drinking,
and Drug Use Respond to Price
Changes”
http://www.nber.org/digest/may05/w10948.html
Your final product will be a paper that:

6. http://www.drugpolicy.org/news/082307media.cfm
http://www.druglibrary.org/schaffer/debate/debate.htm
http://www.cato.org/testimony/ct-dbz061699.html
http://www.aclu.org/criminal-law-reform
http://www.dea.gov/pr/multimedia-
library/publications/speaking_out.pdf
http://www.brookings.edu/research/articles/1996/03/spring-
crime-stares
http://www.nber.org/digest/may05/w10948.html
The requirements for your assignment are:
1. Answer this question fully.
2. Define the overall subject for the question.
3. Cite at least three (3) resources from this week’s materials.
Students: Be sure to read the criteria and review the grading
rubric on the next page, by
which your paper/project will be evaluated, before you write,
and again after you write.
Evaluation Rubric for Unit 3 Assignment
CRITERIA Deficient Proficient Exemplary Points

7. Earned
Overview of the
Topic
0-13 Points
Does not provide an
adequate overview
or is missing.
14-27 Points
Overview is
presented, though
may not be clear or
complete.
28-40 Points
Overview is clearly
presented including
all criteria outlined
above.
Complete

8. Answers
0-11 Points
Question
unanswered and/or
poorly answered.
12-23 Points
Question answered
with 1-2 sentence
inputs.
24-35 Points
Question answered
with depth and
clarity.
References to
Course Materials
0-5 Points
Less than 3
references, no
assimilation to the
questions.

9. 6-10 Points
3 references,
minimal
assimilation to the
questions.
11-15 Points
4 or more references
and assimilations
show depth and
clarity.
APA Format 0-1 Point
Format has errors
that impede
professional
presentation; and/or
APA not followed,
reference page
missing.
2-3 Points
APA format and

10. reference page has
few errors that do
not impede
professional
presentation.
4-5 Points
APA format and
reference page is
clear, professional,
and error free.
Writing Quality 0-1 Point
More than 7 writing
errors, to include
spelling and
punctuation.
2-3 Points
More than 4 writing
errors, to include
spelling and

11. punctuation.
4-5 Points
No writing errors.
Total 100