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Macroeconomics: Should drugs be legalized in America?

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From a macroeconomic standpoint, should all drugs be legalized in America?

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Solution Summary

This solution uses detailed macroeconomic arguments to explain why all drugs should or should not be legalized in America.

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From a purely macroeconomics standpoint, yes, all drugs should be legalized.

Unreported transactions, such as the black market trade in drugs, are not included in a country's Gross Domestic Product (GDP). If drugs were legalized then transactions involving them would have to be reported, and America's GDP would immediately ...

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