Problem
"Prohibition and Drugs" by Milton Friedman, Newsweek, May 1, 1972 AND "Musings About the War on Drugs" by George Melloan, The Wall Street Journal, Feb 21, 2006 AND "Have we lost the war on drugs?" By Gary Becker and Kevin Murphy, The Wall Street Journal, Jan. 5, 2013 AND "Marijuana retail licenses in New York are going first to those convicted of drug crimes" by Jimmy Vielkind & Zusha Elinson in The Wall Street Journal (Online), Sept. 17, 2022.
A. Are criminals "rational" in their behavior?
B. Economists suggest that the "War on Drugs" is actually a source of the growing drug "problem" in the United States. Use the demand and supply model to illustrate and explain economists' opposition to the "War on Drugs".
C. Milton Friedman presented a rather radical position on drugs in America. He stated: "...even if you regard present policy toward drugs as ethically justified, considerations of expediency make that policy most unwise." What drug policy does this famous economist propose for America? Explain Friedman's reasoning.
D. What is the state of New York doing to address the injustice caused by the War on Drugs? What is your opinon of this program?