What is the impact of drug legalization on economy ?

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In History
  • -623 BCE

    Buddhist Five Precepts

    The Buddhist Five Precepts clearly forbid the making and sales of alcoholic beverages, as well as their consumption. Prohibition later included all kinds of drugs, even though tea and caffeine were allowed and even encouraged.
  • 638

    7th century Islamic prohibition

    Islamic prohibition of alcohol in the 7th century, based off on Quran verses, which was later generalized to all forms of drugs and mind altering substances.
  • 1360

    Opium consumption and trade are banned in the Ayuttaha Kingdom (Thailand)

    in 1360, king Ramathibodi I, of the Ayuttaha Kingdom banned the consumption and trade of opium. This lasted for half a century until 1851, when opium consumption was allowed for Chinese immigrants
  • First Chinese ban of Opium

    In 1729, the Chinese emperor Yung Cheng banned the consumption and sale of Opium, due to its popularity and the effects it had on the chinese society.
  • US ban of heroin exports for all purposes

    The US introduces laws that ban the import of Heroin for all purposes due to the rising numbers of heroin addicts in the world.
  • US Alcohol Prohibition

    Due to the negative impact of alcohol abuse on health, and it's perceived effect on society's morals it was prohibited and banned from making and distribution consumption, ...
  • UN narcotic ban treaty

    In 1961 the UN introduced the Single Act on Narcotic Drugs, to regulate an encourage all signing countries to adopt drug regulating laws within their territories and jurisdictions.
  • Oregon legalizes possession of small amounts of hard drugs like cocaine or heroin

    Oregon voters, passed a bill legalizing the possession of small amounts of hard drugs like cocaine or heroin, as well as therapeutic use of psychedelic mushrooms.