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The consequences of decriminalizing illegal drugs have long been debated. Some claim that legalization will lower the price of these drugs and reduce related crime and that more people will use these drugs. Suppose that some of these drugs are legalized so that anyone may sell them and use them. Based of positive economic analysis, how are the price and quantity demanded going to be affected? How will the legalization affect related crime?

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  • $\begingroup$ A reference : "The Economic Theory of Illegal Goods: The Case of Drugs" by Gary Becker. nber.org/papers/w10976 $\endgroup$ – Giskard Aug 2 '15 at 16:56

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