Do you believe the elasticity of illicit narcotics is inelas

Do you believe the elasticity of illicit narcotics is inelastic and if legalized demand will not increase? Do you also believe that many of society\'s social ills associated with drugs will ease not only from the narcotics being legalized, but also from the taxes garnered from its legalization used to assist addicts? Or do you believe the elasticity of illicit drugs is elastic and if legalized the demand for these drugs will increase? Do you also believe that by legalizing illegal drugs will create addicts out of those who simply \"dabble\" in drugs thus putting a further strain on society which the tax benefits gained from legalizing it cannot absorb?

Solution

The illicit narcotics are the drugs, that are found to be useful in treating diseases, so its demand will increase. It will make the these illicit narcotics to be relatively inelastic as increase in prices, will make less impact upon the demand even if the demand will increase when these drugs are legalized. It is on a similar note to the essential medicines whose demand are inelastic in nature.
Yes, it will help the society to recover from the negative side of the narcotics when it is legalized. After the legalization, all the drug dealers, their scope of work, number of clients will help the authorities to track the activities and trade of these drugs. Further the standardization of operation, regulated trade and transparency in this business subdomain will assist the government to prevent the youth involvement in the illegal trade. So, these youth will get the opportunity to recover from the evil of addiction.
Besides, the taxes collected from the narcotics drug traders after the legalization, will be used to develop the rehabilitation center to assist the addict people to come out of the addiction and join the main stream of the society.