Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Investing

Decriminalization vs. Legalization

by February 13, 2024
February 13, 2024
Decriminalization vs. Legalization

Jeffrey Miron

Sheriff’s deputies dumping illegal booze during Prohibition. (Photo courtesy Orange County Archives, 1932)

Is decriminalization or legalization the better alternative to the war on drugs?

Decriminalization means the elimination of criminal penalties for possession of small amounts. This lowers the “full” price for drugs, thereby increasing demand. Because most negatives of prohibition grow with the size of the black market (violence, overdoses, corruption, racially biased policing, infringements on civil liberties), decriminalization plausibly increases such harms. The only clear benefit of decriminalization is that users do not face jail time or criminal records.

This perspective raises a question: why has decriminalization sometimes reduced the negatives of prohibition?

The answer is that decriminalization sometimes involves not just reduced penalties for possession but also reduced enforcement against production and distribution. Scaling back enforcement means less disruption of the underground market, which should reduce violence, and expansion of the scope for medical provision, improving quality control and reducing overdoses. 

This perspective explains why Oregon and other places that decriminalize do not experience obvious reductions in overdoses or crime; that is exactly what we should expect unless decriminalization involves lower supply‐​side enforcement.

Under full legalization, drug markets move fully above ground (assuming regulation and taxation are moderate), which eliminates the “drug‐​associated” ills due to prohibition. The history of alcohol in the United States is a perfect illustration; violence in the alcohol trade was absent both before and after Prohibition, and accidental overdoses soared during Prohibition.

This article appeared on Substack on February 13, 2024.

0
FacebookTwitterGoogle +Pinterest
previous post
Building Lasting Connections with Potential Buyers: Key Insights
next post
S&P 500 Plunges Below 5K!

You may also like

Perttu v. Richards Brief: Defending the Right to...

January 22, 2025

My Washington Post Letter to the Editor about...

July 12, 2023

Questioning the Housing Crisis: Demand Matters Too

December 17, 2024

Populism and the Future of the Fed: A...

July 29, 2022

STATES Act 2.0 Would Make the Federal Government...

December 8, 2023

Breaking Down Taiwan’s Arms Backlog, Part 2: Maintenance

November 9, 2023

Student Loan Forgiveness and Standing

July 3, 2023

The Best Political Argument for More Immigration Restrictions...

November 7, 2024

“Repeal the Tax Exclusion for Employer-Sponsored Insurance to...

January 24, 2025

We Fixate on Book ‘Bans,’ But It’s Time...

October 25, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump’s Debanking Order Calls for Investigation, Something Tennessee Should Have Done

      August 9, 2025
    • MIKE DAVIS: Eric Tung is Trump’s pick to bring sanity to the Ninth Circuit

      August 9, 2025
    • How Europe’s car industry can survive the Chinese EV challenge

      August 9, 2025
    • Hiring Software & JavaScript Developers: Skills, Costs, and Best Practices

      August 9, 2025
    • Rakhi Butani on Skincare, Cooking, and the Power of Balance

      August 9, 2025
    • Jeremy Clarkson warns of ‘catastrophic’ UK harvest as farmers battle extreme weather and rising costs

      August 9, 2025

    Categories

    • Business (8,728)
    • Investing (2,191)
    • Politics (16,345)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved