This article was originally published on Microdose and appeared here with permission.

In recent years, there has been a growing movement to decriminalize and legalize psychedelic drugs, with increasing evidence that the legalization of psychedelics and other compounds could have significant economic and social benefits.

Potential Benefits Of The Legalization of Psychedelics

Many believe that the “war on drugs” has been not only a moral failure, but one that has cost society and the economy in many ways. According to advocates, the criminalization of drugs has led to mass incarceration, and the harming of families and communities — all while doing little to reduce drug use.

So what are the societal benefits of ending drug criminalization and moving towards the legalization of psychedelics?

One of the most significant economic benefits of drug decriminalization and/or legalization is the reduction in government spending on law enforcement and incarceration. In the United States, the war on drugs has cost taxpayers trillions of dollars. Decriminalizing drugs would free up these resources for other purposes, such as education, healthcare, and social services.

For example, a study by the Cato Institute found …

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