I'll add a second view where.
All drugs should be legal is you are of voting age. If you want to smoke crack its up to you. Back in the late 1980's, National Review magazine (William F. Buckley) ran a series of articles, acknowleding that the war on drugs was losing tons of money and was not working. There are certainly well-known "voices of conservatism" who have come out and said to legalize drugs.
My 2 cents is these advocates have a point - but until we actually would "get" to the stage the advocates describe (i.e. loss of economic incentive), things would get MUCH worse before getting better. It is the youth in particular I worry about.