Wait, $800 million is almost a third of $2.7 billion. That doesn't seem like a drop in the bucket. That seems like a third of a bucket which is a large amount of a bucket.
which in 2008 was worth $55 billion. Legalizing cocaine production, and becoming the defacto global supplier of that market which is exactly what would happen-- the gray market export of Cocaine would become utterly enormous.
I personally think this would probably be closer to a $50bn+ a year boost to their economy-- maybe more. The street value being 2x-3x more than the add to GDP, but most of that additional value will probably be consumed by cartels importing the drug to larger markets.
Being able to legally produce the cocaine and have the state's protection, open access to financial and labor markets available would no doubt fucking revolutionize the cocaine industry. It'd be the biggest thing to happen to cocaine since crack!
For example, with it legal the local police and/or military would protect your shipments within Colombia's borders instead of seizing or destroy them... for free!
I've heard something like 50% of illegal drug shipments are lost/stolen/seized by the time they get to their destination market... and it's still wildly fucking profitable to produce. Imagine being able to produce it cheaper, safer, and faster-- then cocaine becomes the rest of the world's problem. It'll push the violence out of Colombia and into the markets where it's being bought and financed... inverting the grip of terror. I hope they do it and I hope it's glorious for 'em.
The rest of the world needs to learn drugs are a health issue at most and never a criminal one. The only criminals are the ones we make...
> Isn't Columbia already the de facto global supplier of cocaine? Not of just the American market, but the... global ~~supplier~~ market.
I'm not a drug expert, but I seem to recall island nations of S. East Asia being a large exporter of cocaine, too. It was on one of those drug Vice series.
Specifically coming from the 'golden triangle.' I'm not savvy enough to know if it was all just synthetic versions of it or simply product from Columbia that is re-packaged/cut for the Asian Market.
Personally speaking, I dislike all amphetamines but some people are equally as addicted to caffeine as they are to cocaine, I've worked in 2 Industries where both are consumed in large quantities on a daily basis. Which is why I personally want nothing to do with them, but if consenting adults are willing to take on the responsibility and we get one step closer to ending all of the cronyist BS that comes from the drug war than I hope it happens.
Especially if it gives subsistence farmers in Columbia a cash crop they can increase their standard of living from and sell in open market trades rather than in some clandestine cartel operation.
> IIRC, neither cocaine or caffeine or amphetamines, they are stimulants, but do not fall under the amphetamine class. :) I could be wrong.
I was speaking in regards to cocaine, obviously caffeine isn't one, but you're right... that was a total misnomer on my part as the Functional group or R-group is completely wrong classification. I'm not sure why I called it that upon review and it seems my lessons from Organic Chemistry are fading these days.
This is why I find it bizarre that <$1 billion in aid is reducing the financial opportunity of the country where a majority of the supply comes from. This is a devil's deal. I don't understand how the leaders of a country are so corruptible.
>> the cocaine industry in Columbia is assumed to be worth
That is not the industry literally inside columbia, rather the value of cocaine as exported from columbia. Legalizing cocaine in-country would not legalize the international smuggling network. For the columbian government to sell all that cocaine they would still have to smuggle it out to customers. The americans/UK/Canada/europe/russia/china would not accept such international behavior.
Indeed, for reference my understanding is that street cocaine usually sells for £50-£100/gram in the UK, and that this is usually cut with other substances. Whereas in Colombia you can get what people tell me is much purer cocaine for £3/gram.
Almost all of it is. I'm in Ecuador and its about $5/g here, hell if you stay at a touristic place and drop some money, I bet they'd comp your coke just to get you into the room right now. Its dirt cheap anywhere in South America.
There would also be the implicit threat of regime change if they legalized. America would probably support any upcoming attempted right wing coups as it has in most of the rest of Latin America.
https://www.bbc.com/news/world-latin-america-45578492
That $800 million's a drop in the bucket by comparison.