Abacus Wealth Management

33 Trillion Reasons To Legalise the Drug Business

A couple of weeks ago, one of the writers here gave a strong financial case for the legalisation of prostitution. Forget morals, prostitution is big business he said, and big business needs to be taxed. Well, since we are on big business, let’s talk about drugs.

Some people sell vegetables while others sell cars. Insurance brokers actually sell possibilities. They want people to buy something they may not even use with the guarantee that if they use it, they will be compensated. Stranger things have hit the markets. Take, for instance, the darkest recesses of history where man has even sold his own brethren.

To shed some more light on what would otherwise be an unconventional commodity; prostitution is one of the world’s oldest professions. In the words of Anne Bishop, author of the fantasy novel, Daughter of the Blood, “Everything has a price.” You just have to haggle long enough to find it.

It’s all about supply and demand. Someone will always have a product that someone else desperately needs. So why are people so taken aback when they hear about the business of selling drugs?

When someone is shot to death for selling drugs, most people assume it was bound to happen. But when the same thing happens to a baker or a butcher, they call it a tragedy. Aren’t they all trying to run a business?

Fast food producers all over the world have been selling merchendise that threaten the health of the consumer for years. Products like fried potatoes and energy drinks which are linked to high blood pressure circulate the market with ease yet a drug like cocaine warrants a jail sentence.

You hardly ever hear about a bust on a potato farm, yet rarely does a year goes by without a crackdown on bhangi or some other nasty drug with an even more disgusting name.

Drugs are a Big Part of the Economy

According to a report by Foreign Policy in Focus (FPIF),  illicit drug trafficking generates as much as USD 400 billion annually. This amounts to KES 33.6 trillion a year. That’s 8% of the world’s international trade. Further more that’s 24 times the Kenyan economy.

Why would anyone want to outlaw something that can become one of the country’s most profitable businesses? Think about it; this is literally billions of dollars in taxable income! Some people would even argue that the world could be a safer place if a Drug-Trade Regulatory Committee existed. If it was no longer a crime to sell drugs, maybe people wouldn’t spend so much time killing and stealing for something you could get in a store at subsidized prices.

Imagine walking down the street and seeing an offer “Cocaine two hits for the price of one.”

Granted, the idea has its flaws, drug addicts being the first to throw a spanner in the works. Though, it goes without saying that anyone can be addicted to anything. Furthermore, too much of anything can kill you. Take, for instance, a glass of water; drinking too much can lead to water intoxication. The same thing applies to oxygen. Huffing too much from an oxygen tank can lead to a euphoric death, much like a morphine or a heroin overdose.

Drugs Get Free Advertising

No one wants to tell their children that this so called bhangi is actually the same thing as Hollywood’s ever popular recreational drug, marijuana. Nevertheless, the film industry is more than happy to advertise the product for free.

If you’re an avid fan of the Harold and Kumar franchise, you know this to be true. Loosely based on a trip between an office and a fast food restaurant, Harold and Kumar Go to White Castle would be more suited for a title like Harold and Kumar’s Bag of Marijuana. At least 10 minutes worth of footage is dedicated to glorifying the drug.

Breaking Bad, one of AMC’s most popular shows, gives a more definitive picture of the infamous drug business. From manufacture, to retailer, to the people who transport the merchandise, Breaking Bad tells you just how easy it is to fall into such a profession.

When Walter White, the series’ main protagonist is diagnosed with cancer, he uses his skills as an exceptional high school chemistry teacher to cook Methamphetamine, popularly known as Crystal Meth. By the end of the shows’ 4th season, Walter, along with his partner Jesse Pinkman, stand to make USD 1.5 million each. Of course, the deal goes sour but not before the duo makes hundereds of thousands of dollars in profit.

The series has given birth to countless internet memes and a record-breaking audience of more than 2.9 million viewers. It has inspired thousands of potential chemistry buffs to consider cooking meth as opposed to pursuing a degree which may lead to a less profitable job in the future.

If there’s anything to be learned from Al Pacino’s character in the cult classic, Scarface, it’s that when you’re in the drug business, you have to know when to quit.

Johnny Depp’s character in the film, Blow would have retired to a life of luxury had he taken this small piece of advice. Instead, he sold marijuana until his friend introduced him to cocaine, leading him down the path to self-destruction.

Don’t forget about Griselda Blanco, the 69 year old Colombian drug Baron who got assassinated on Monday. She was making USD 8 million a month in drug profits before 2 motorcycle assassins gunned her down as she walked out of a butchery in her home town of Medellin.

Hubris is a funny thing. One time you’re making millions in profit, the next, you’re going to prison with a bank account that reads ‘nil’. If the business was legal and the products were certified, world governments would make millions in taxes. Of course, there would need to be a board or a regulatory authority to ensure that the drugs met a specific set of standards. Concentrated doses of cocaine and pure methamphetamine might be eventually phased out or tagged as illegal, starting the vicious cycle all over again.

“Recreational” drugs like cannabis, Lysergic Acid Diethylamide (LSD), Ecstacy and Amphetamines can take centre-stage as stake holders count their legitimate profits.

So why not? After all, it is big business. Maybe next we can work on the legalisation of robbery. I hear they make big bucks off a single bank heist.

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