What is the economic reasoning behind the proposal to legalize drugs?
A) Legal drugs will greatly increase the supply, which will reduce the price Americans pay to foreign producers of the drugs.
B) All forms of government restrictions on behavior are immoral and ought to be removed.
C) Legal drugs will be much cheaper than illegal drugs, which will reduce incentive for crime to obtain money for drugs and to protect drug "businesses."
D) Legal drugs will be more expensive than illegal drugs, and the market system will encourage more production, thus lowering the price.
E) Dealing with supply is always easier than dealing with demand, and legalization accomplishes that.

Question

Quizplus · Accepted Answer

Legalizing drugs would make it easier for drug producers to enter the market legally, increasing competition and lowering prices. This would reduce the incentive for individuals to engage in criminal behavior to obtain drugs or protect drug businesses, which would result in lower overall crime rates and costs associated with law enforcement. Additionally, legalizing drugs would generate tax revenue for the government, which could be used to fund drug treatment and education programs.

What Is the Economic Reasoning Behind the Proposal to Legalize