by exploited » Wed Sep 26, 2012 1:43 pm
Legalizing drugs will do alot to reduce black market drug sales, but they won't be eliminated entirely. In the United Kingdom, illegal sales of alcohol, cigarettes and diesel - all legal products - has resulted in the loss of 28.5 billion pounds in tax revenue. Obviously, that number should be multiplied by an unknown factor to guesstimate total sales within the UK.
I am guessing that cartels will invest heavily in creating new drugs, which may not be deemed safe by whatever regulatory board oversees the legal sale of drugs. The loss of revenue may hurt them in the short term, but they will adjust, as they always have.