College economics professor Carl Moody has endorsed a report advocating the legalization of marijuana, which, according to research done by a Harvard University professor, would create savings and tax revenues resulting in a net gain of approximately $10 to $14 billion annually.

Harvard economics professor Jeffrey Miron's report, published in June 2005, is called "The Budgetary Implications of Marijuana Prohibition," and has garnered the support of over 530 economists from colleges and universities across the nation.

Focusing on federal budgets, Miron's report notes that "prohibition entails direct enforcement costs and prevents taxation of marijuana production and sale."

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