IMO legalization in some form with some kind of taxation would save money, and it would not make the problems we have now worse.
Nor do I think it would cure anything. The solution of the drug problem will be found beyond legalization or the WOD. It's a root cause issue but I don't think that's easily fixed either. In fact I think it's gotten worse since my childhood. I fear many of our young folks have never known a time when decency (however imperfect) was the norm. It's sad. Legalizing is like giving up.