Publisher description: An analysis of the true costs, benefits, and consequences of enforcing drug prohibition is presented in this book. Miron argues that prohibition's effects on drug use have been modest and that prohibition has numerous side effects, most of them highly undesirable. In...

The effect of drug prohibition on drug consumption is a critical issue in debates over drug policy. One episode that provides information on the consumption-reducing effect of drug prohibition is the Chinese legalization of opium in 1858. In this paper we examine the impact of China's opium...

This paper examines the effect of drug prohibition on the black market prices of cocaine and heroin. The paper examines the ratio of retail to farmgate price for cocaine, heroin, and several legal goods, and it compares legal versus black market prices for cocaine and heroin. The results suggest...