So I believe that all drugs should be legalized, for the usual libertarian reasons. The War on Drugs only serves to drive the price of drugs higher, which makes nearly all of the problems of drug use worse, encourages gang violence, puts large numbers of underprivileged (usually minority) youth in jail, etc.
One thing that makes me hesitate, though, happened when I think of a friend, living in an impoverished neighborhood, whose livelihood (and that of this person’s small children) depends entirely upon the sale of large quantities of illegal drugs. This person, if drugs were legalized, would probably have their job taken away by a pharmaceutical company of some sort. And this person (please forgive the understandable vagueness of my descriptions) doesn’t really have any other skills that would allow him/her to support two small children.
In other words, I don’t quite have enough faith in the market to take the leap of leaving the underprivileged to rely on it solely. Too much historical oppression, governmental intervention in favor of the privileged, etc. has gone under the bridge for us just to switch to laissez faire and say “ok, that’s it, now go succeed with in the marketplace!” I think the great socio-political project of the 21st century will be harnessing capitalism so it can help the underprivileged who have traditionally been left outside of the stream of globalization that has so enriched the majority of the developed world.