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Prohibition and the Market for Illegal Drugs
Jeffrey A. Miron
World Economics, December 2001
Over the past 25 years in the United States, enforcement of drug prohibition has expanded dramatically. Over the same period, however, the trends in drug production and consumption have been essentially flat, and the real, purityadjusted prices of both cocaine and heroin have more than halved. This combination of facts raises questions about the effectiveness of prohibition enforcement, and it constitutes a puzzle that is interesting to explain. In this paper the authors document these facts and explore possible explanations. They do not claim to provide a complete answer, but shed light on which explanations are likely to be important.
Brian Sturgess on Steven D. Levitt & Stephen J. Dubner: Superfreakonomics
World Economics, September 2010
Brian Sturgess on Raymond Fisman and Edward Miguel: Economic Gangsters
World Economics, December 2009
Understanding Crime, Political Uncertainty and Stock Market Returns
Juan Carlos Franco Laverde
Maria Estela Varua
World Economics, June 2009
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