Repeal of Prohibition: A Benefit‐Cost Analysis

@article{Vitaliano2015RepealOP,
  title={Repeal of Prohibition: A Benefit‐Cost Analysis},
  author={Donald F. Vitaliano},
  journal={ERN: Other Political Economy: National},
  year={2015}
}
  • D. Vitaliano
  • Published 1 January 2015
  • Economics
  • ERN: Other Political Economy: National
type="main" xml:id="coep12065-abs-0001"> In spite of an estimated increase in annual alcohol-related motor vehicle costs of $2.767 billion (1947 dollars), the net social benefit of repeal of alcohol Prohibition amounts to $432 million per annum in 1934–1937, about 0.33% of gross domestic product. Total benefits of $3.25 billion consist primarily of increased consumer and producer surplus, tax revenues, and reduced criminal violence costs. A Monte Carlo simulation shows the probability of… 

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