The short answer is 'Yes, obviously.' - "Is it Time to Lower the Drinking Age?"

Glenn Reynolds on Lowering the Drinking Age - Hit & Run : Reason Magazine:

"It's simply pathetic that here we are in the 21st century - a time of Hover Cars and Cloud Cities - and we're still stuck in a Just Say No moment that demonstrably fails to deliver precisely what it claims to: less destructive behavior on the part of kids."