In an article over at CNN.com, I discuss a new study that confirms that the war on drugs is an expensive failure. That report from BMJ Open, an affiliate of the British Medical Journal, reaches the damning conclusion, supported by compelling evidence, that drug warriors have consistently failed to achieve their stated objectives.
Among other findings, the report documents that inflation-adjusted and purity-adjusted prices of marijuana, cocaine, and heroin have all decreased dramatically since 1990. That was true in such geographically distinct areas as Europe, the United States, and Australia. In other words, illegal drugs are plentiful and cheap around the world, and there is no indication that the trend is likely to change. The authors state that despite “increasing investments in enforcement-based supply reduction efforts aimed at disrupting global drug supply, illegal drug prices have generally decreased while drug purity has generally increased.”
None of this comes as a surprise to the swelling ranks of critics of the international drug prohibition policy. Drug abuse is certainly a major public health problem, and its societal costs are considerable. But banning the drug trade creates ugly social and economic distortions. Because certain drugs are illegal, there is an enormous black-market premium (by most estimates, up to 90 percent of the retail price) associated with them. That lucrative lure attracts the most corrupt, violent individuals and organizations.
– Read the entire article at Cato Institute.