As said, the economist magazine says legalize drugs (ht Carpe Diem).
This isn’t a big issue to me personally – relative to what I see as “big issues” like the current recession. However, I can definitely see some good in legalizing (and taxing) drugs (something we were discussing here). For some reason though, it is an issue where I think emotion has moved ahead of good policy design.
Pure regulation is often not the best solution – how much are we hurting peoples welfare by keeping many drugs illegal. I don’t know, my goal is to have a government introducing policies that maximise welfare – and I believe that legalizing (and taxing) the use of some drugs may well be welfare enhancing. With the Economist saying the same sort of thing I feel like I’m starting to form an opinion 😛