Does The Great Depression Have Anything To Teach Us?

1930s_IndustryIn the United States, one of the most memorable historical elements of the great depression of the 1930s was the prohibition of alcohol.

To say the least the government was keen on making it work but instead eventually had to repeal the ban an admit that it was never going to work. This of course was only after prohibition had created an organized crime problem that the country is still dealing with today.

We are currently in the midst of the greatest economic downturn since the great depression and also slap bang in the middle of prohibition of a different kind. There are as many differences as there are similarities so there is no real point in trying to make lists but one fact remains.

Prohibition has never worked in the face of something that people really want to engage with so there is absolutely no reason to suggest that it is going to work this time.

The regulation and taxation of online gambling offers massive potential in terms of revenue for the government and would remove all the difficulties attached to enforcing the current legislation.

It would seem that the current economic situation has brought quite a few high profile politicians around to this way of thinking and momentum does seem to be growing in terms of the possibility of repealing the ban.