Turn the world economy around - legalize drugs
I was reading the Post blog today and came across a clip covering a smoke-in in Toronto. It reminded me of a conversation I had with some friends a couple of weeks ago.
Take general estimates of the Canadian drug trade - let’s assume about $18 billion/year. Now say that legalization and lower business risk would drop that value to about half - $9 billion/year.
If this size of trade was legitimized worldwide (and of course taxed like western countries love), and the ancillary affects of reduced law enforcement, and international military need were felt, there’d be bags of cash injected into the white market from the rapidly collapsing black market. Would probably be enough to provide a huge one-time increase in international GDP.
The better numbers would immediately restore confidence in the world economy. And best of all we wouldn’t have to listen to Paulson and Bernanke get on the news every ten minutes letting us know that the world is going to hell, scaring the shit out of everyone on the planet.
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Well said