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Friday, February 10, 2023

How much is worth the global illegal drug trade market and would legalizing these drugs transfer this wealth to honest parts of society?

The exact size of the global illegal drug trade market is difficult to quantify, as it operates in a black market and is therefore not subject to official monitoring or reporting. However, some estimates put the size of the global illegal drug trade market in the hundreds of billions of dollars.

If all currently illegal drugs were legalized, it is likely that some of the wealth generated by the drug trade would be transferred to more legitimate parts of the economy. For example, legalization could lead to the creation of new businesses that are able to operate openly and legally, as well as the generation of tax revenue from the sale of drugs.

However, it is also important to note that there are many other factors that would impact the distribution of wealth in a legalized drug market, including the specifics of the regulatory framework, consumer demand, and the level of taxes applied to the drugs. Additionally, legalization could lead to changes in the structure of the drug trade, including the displacement of existing illegal drug markets, which could have unintended consequences for the distribution of wealth.

Overall, while legalization of drugs could potentially transfer some of the wealth generated by the drug trade to more legitimate parts of the economy, it is difficult to predict the exact impact that this would have on the distribution of wealth, as this would depend on a wide range of factors, including the specifics of the regulatory framework and consumer demand.

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