Your points Bose are clearly the given wisdom.
Interestingly however, when I googled "social effects of cocaine use" and several variants on that - I could find basically nothing that described any reasonably rigorous research which actually described these sort of effects.
It reminds me of the former home secretary who fired David Nutt for daring to compare the risks of legal and illegal activities. Talking of whom, he had a go a few years ago at providing some evidence here:
Drugs that cause most harm: Scoring drugs | The Economist
Specifically this...
Which puts the damage caused by powder cocaine a long way behind alcohol, and about the same place as tobacco.
G