The Economic Consequences of 'The Reef'

In 1919, John Maynard Keynes wrote The Economic Consequences of the Peace.

It was a call... not for regular 'action', but for relatively counter-intuitive action... less punitive (like the Treaty of Versailles and League of Nations it criticized), and more rehabilitative (like the Marshall Plan it inspired).

Resources:
http://www.cato.org/research/drug-war

How Washington Funded the Taliban
http://www.cato.org/publications/commentary/how-washington-funded-taliban

Making the Case for Marijuana Legalization
http://www.cato.org/publications/commentary/making-case-marijuana-legalization

Why Did California Vote Down Legal Pot?
http://www.cato.org/publications/commentary/why-did-california-vote-down-legal-pot

Making an Economic Case for Legalizing Drugs
http://www.cato.org/publications/commentary/making-economic-case-legalizing-drugs

Drug Legalization — a Windfall for State Budgets
http://www.cato.org/publications/commentary/drug-legalization-windfall-state-budgets

Drug Decriminalization Policy Pays Off
http://www.cato.org/publications/commentary/drug-decriminalization-policy-pays

Drugs and Conservatives Should Go Together
http://www.cato.org/publications/commentary/drugs-conservatives-should-go-together
My just-released Cato Institute study shows that prohibition entails government expenditure of more than $41 billion a year. At the same time, the government misses out on about $47 billion in tax revenues that could be collected from legalized drugs.

Legalizing Marijuana: Money Over Minds
http://object.cato.org/sites/cato.org/files/serials/files/regulation/2013/9/regv36n3-8n_6.pdf#page=13

Drug Decriminalization in Portugal: Lessons for Creating Fair and Successful Drug Policies
By Glenn Greenwald
http://www.cato.org/publications/white-paper/drug-decriminalization-portugal-lessons-creating-fair-successful-drug-policies

The Budgetary Impact of Ending Drug Prohibition
By Jeffrey A. Miron and Katherine Waldock
http://www.cato.org/publications/white-paper/budgetary-impact-ending-drug-prohibition

Mexico’s Failed Drug War
http://www.cato.org/publications/economic-development-bulletin/mexicos-failed-drug-war

Time for an Alternative to Mexico’s Drug War
http://www.cato.org/publications/economic-development-bulletin/time-alternative-mexicos-drug-war