Almost every person in the U.S. has their own opinion about drug legalization. After reading the assigned article, I have to say that I agree with the substantial pros and cons that were presented in the article in reference to drug legalization. I do believe that if drugs were legalized, one cannot deny that the lucrative market that already exists would produce economic benefits. As indicated by the article, the money that is allocated for the “war on drugs” could be made available for possible use towards improving schools. It could also be used toward health care, education, social welfare programs, and alleviating the national debt. It could create jobs and raise money at both the federal and state level, and it could also reduce crime and deaths. However, I also strongly agree with the cons that were pointed out in the article. While the legalization of drugs might decrease crime rates in some areas, it could possibly increase crime rates in others. For instance, traffic violations and accidents might increase. It might also bring forth corporate corruption to companies or be brought forth by companies that would sell the legalized drugs. Not only could it produce this con, but it could also lead to more people experimenting with drugs and being addicted to them. This could result in benefit for our economy, but it could also send our nation into a downward spiral.
To answer the questions that were presented, if the supply curve was moved to the left there would be less supply and there would be more quantity demand and the prices for drugs would be higher. The relative effect on price versus quantity is that larger quantities will be offered at higher prices. If the demand curve were shifted to the left by the same amount, the relative effect is that there would be more supply, but the price and quantity demanded will