Can Some One Summarize This?

Question by cherryblossom: can some one summarize this?
“The main reason large-scale drug dealers make great amounts of money is because of the great risks that they are forced to take in order to conduct business. If someone is caught selling drugs, they are subject to immense fines and considerable time in prison – to say nothing of the risk of a violent death. No one in their right mind would sell illegal drugs for a “salary” at minimum-wage level. When the dealer plies his trade, he is compensated not only for the cost of the drugs but also for the transaction costs involved in the sale. These transaction costs would diminish astronomically if the nation were to legalize drugs. At one fell swoop, this would destroy the lucrative nature of underground sales. Purveyors, many with great entrepreneurial ability, would find meaningful jobs, and general productivity would increase.

The reduction of these transaction costs would produce another benefit to society as a whole. As a recent economics Nobel Prize winner notes, “the victims of drugs fall into two classes: those who choose to use drugs and innocent victims – who in one way or another include almost all the rest of us. Legalization would drastically reduce the number of innocent victims” (Friedman p. 58). If drugs were legalized, causing transaction costs to diminish, the cost of drugs would drop sharply. The cost of a heroin addict’s weekly supply might drop to that of a nicotine addict’s expenditure on cigarettes, chewing tobacco, and the like. If this phenomenon were to occur, then the society as a whole would benefit, as crime would drop considerably. Addicts would not need to rob, cheat, and steal to pay drug dealers who themselves are taking tremendous risks. Therefore, America would see an improvement in its standard of living, as violent crime and invasions of property would fall drastically. Given the inelasticity of demand for drugs, this decrease in the price of drugs would not likely cause a major rise in their use.”
please help with the kindness of you heart, i mean i know we’re in a recession but gosh i just need a simple answer

Best answer:

Answer by sgtcjl
Yes, I can summarize it. I charge $ 20 an hour for editing/general writing help. Let me know if you’re interested.

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