A new report, "The Budgetary Impact of Ending Drug Prohibition," has been published by Harvard economist Jeffrey A. Miron and Katherine Waldock, a PhD candidate at the Stern School of Business at New York University. This report has been published by The Cato Institute.
An announcement for Cato study asserts that the "drug criminalization structure" nationally "squanders a total of $88 billion a year - $41.3 billion spent to prosecute the 'war on drugs' and $46.7 billion in lost potential revenue from the taxation of legal drug sales."
A .pdf of the report is available at the link above.
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