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Article: The Economics of Prohibition. (book reviews)
- Article from:
- Mid-Atlantic Journal of Business
- Article date:
- March 1, 1994
- Author:
CopyrightCOPYRIGHT 1994 Stillman School of Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In this book, the author investigates the origins and the consequences of prohibition on the use of various illicit substances like marijuana in the United States. The author uses a mix of applied economic theory and historical analysis to explain why inspite of manyfold increase in the drug law enforcement efforts and drug related convictions, consumption of illicit drugs among addicts has not significantly changed. The potency of illicit drugs has increased overtime. The author refrains from using sophisticated econometric tools but uses information from other disciplines like criminology, sociology and political science. The book makes an easy, interesting and thought ...