The Electric Commentary

Tuesday, March 22, 2005

The Drug War

Over at Bushwood, Danny links to two posts by Gary Becker and Richard Posner (of the Becker/Posner blog) about the drug war. One thing in particular caught my attention.

Gary Becker states:

After totaling all spending, a study by Kevin Murphy, Steve Cicala, and myself estimates that the war on drugs is costing the US one way or another well over $100 billion per year.

While I favor the legalization and taxation that Becker recommends, I couldn't help wondering whether or not $100 billion/year is enough money to simply purchase all illegal drugs in existence. If it is not, I am willing to bet it is very close.


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