(Forbes.com) A founding father of the Reagan Revolution has put his John Hancock on a pro-pot report.

Milton Friedman leads a list of more than 500 economists from around the U.S. who today will publicly endorse a Harvard University economist's report on the costs of marijuana prohibition and the potential revenue gains from the U.S. government instead legalizing it and taxing its sale. Ending prohibition enforcement would save $7.7 billion in combined state and federal spending, the report says, while taxation would yield up to $6.2 billion a year.

The report, "The Budgetary Implications of Marijuana Prohibition," (available at www.prohibitioncosts.org) was written by Jeffrey A. Miron, a professor at Harvard , and largely paid for by the Marijuana Policy Project (MPP), a Washington, D.C., group advocating the review and liberalization of marijuana laws.