The legalisation of drugs has been the subject of debate for the last century. For many years, experts have focused on the legal regulation of drugs and its effects on the economy and social welfare, either through a historical overview of a particular regime or through a comparative legal approach between different countries. The literature is replete with moral, social and economic arguments. This thesis focuses only on the latter.
The purpose of this thesis is to examine the economic effects of legalisation. The focus of the work is on the areas of costs and benefits, the adverse consequences of drugs and a summary of the main views of the profession on the trend in drug costs in the event of legalisation.
The thesis will be based on the hypothesis that legalising drugs brings greater economic benefits to society than prohibition. The conclusions will be supported by studies based on studies assessing the social costs and benefits of drugs and complemented by substance-specific analyses where consumer response to a change in government regulation can be monitored, i.e. an analysis of the consequences of American Prohibition and studies assessing the impact of cannabis legalisation.
Despite the potential economic benefits, the legalisation of drugs is a very complex problem that cannot be viewed from a single perspective. Historical and cultural contexts and influences on public opinion have to be taken into account, making it difficult to draw firm conclusions.
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