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This book provides the first multidisciplinary and nonpartisan analysis of how the United States should decide on the legal status of cocaine, heroin and marijuana. It draws on data about the experiences of Western European nations with less punitive drug policies as well as new analyses of America's experience with legal cocaine and heroin a century ago, and of America's efforts to regulate gambling, prostitution, alcohol and cigarettes. It offers projections on the likely consequences of a number of different legalization regimes and shows that the choice about how to regulate drugs involves complicated tradeoffs among goals and conflict among social groups. The book presents a sophisticated discussion of how society should deal with the uncertainty about the consequences of legal change. Finally, it explains, in terms of individual attitudes toward risk, why it is so difficult to accomplish substantial reform of drug policy in America.

Drug abuse --- Drug control --- Drug legalization --- Government policy --- Cross-cultural studies. --- Criminal law. Criminal procedure --- Social problems --- Toxicology --- United States --- Drug enforcement --- Drug law enforcement --- Drug policy --- Drug traffic --- Drug traffic control --- Drugs --- Narcotics, Control of --- War on drugs --- Vice control --- Drug use --- Recreational drug use --- Substance abuse --- Government policy&delete& --- Cross-cultural studies --- Drogues --- Jeu --- Business, Economy and Management --- Economics --- Alcool --- Alternatives --- Prostitution --- Tabac --- Tolerance zero --- United States of America

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Legalizing marijuana in California would lead to a major decline in the pretax price, but the price for consumers will depend heavily on taxes, the regulatory regime structure, and how taxes and regulations are enforced. The lower price and nonprice effects will increase consumption, but it is unclear by how much. There is much uncertainty about the effect on public budgets; even minor changes in assumptions lead to major differences in outcomes.

Drug legalization -- California. --- Drug legalization -- Economic aspects -- California. --- Marijuana -- Law and legislation -- California. --- Marijuana industry -- Social aspects -- California. --- Marijuana --- Drug legalization --- Marijuana industry --- Law and legislation --- Economic aspects --- Social aspects