You said legalizing marijuana, not all drugs. and legalizing all drugs is much, much different issue. There is a big difference between legalzing just marijuana versus all drugs. I don't think the profits would be reduced at all, simply replaced by other products.
Well, it wasn't me who said it in the first place, but that aside...
"legalizing all drugs is much, much different issue."
I'm not sure I agree - this is arguably the first step on that path (if we wish to continue down that path). I agree that there will be different outcomes.
That said...
"I don't think the profits would be reduced at all, simply replaced by other products."
I'm not sure you understand how business works. For that to happen, someone needs to start purchasing substantially more cocaine and methamphetamine. If the cartels are capable of making that happen, why aren't they making it happen now?
I think I do k ow how it works; I'm not sure you know how black markets, particularly those based on drugs. If you feel there is any lack of demand of cocaine or meth I guess you are free to believe it.
More than doubling your revenues on an existing product is never easy. Doubling production won't do it, because those most willing to pay will be satiated and it won't command the same price. Also, cocaine involves more processing and coca plants grow more slowly and need more space than cannabis, so even doubling revenues isn't going to double profits. It also takes a good year before coca plants can be harvested - and retooling a supply chain can always be expensive. Meth might be easier, but still suffers from the same market depth issue, and still involves building out more infrastructure, which is still expensive. It's also likely to raise the costs of precursors, which will again limit profits.
I really don't see that any of these considerations are any different due to it being a black market - if you think they are, explain why.
