Decades of efforts to reduce the supply of illegal drugs like cocaine and heroin have failed to stop widespread availability, and as an unintended consequence, have encouraged violence that has destabilized important US allies like Colombia and Mexico. This slideshow uses concepts from Econ 101 and the writings of Friedrich Hayek to explain why strategies used in the war against drugs create the conditions for their own failure.

1. More Slides from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ Econ 101, Hayek, and Why We are Losing the War against Drugs Posted March 30, 2011 Terms of Use: These slides are made available under Creative Commons License Attribution—Share Alike 3.0 . You are free to use these slides as a resource for your economics classes together with whatever textbook you are using. If you like the slides, you may also want to take a look at my textbook, Introduction to Economics , from BVT Publishers.