Free Market and Taxation, Politics and Economics, Texas Economic Model

The war on drugs was declared in 1971 by president Richard Nixon in a press conference that went on to outline a plan to fight the trade of controlled substances across the world. Drugs were declared national enemy number 1. Since then, over 1 trillion dollars have been spent on fighting this battle and by all metrics, it has been money poorly spent. It's probably no surprise to anybody that drug related deaths and crimes have done nothing but rise over the 50 years since Nixon made this declaration. This is the first time in almost 3 decades that an incumbent president has been voted out before serving a second term and it has come in the midst of national and global catastrophes galore. To add fuel to a fire that threatens to ignite the global economy, the outgoing president has been vehemently challenging the results which is casting doubt over the smoothness of the transition, the continuation of much-needed government support, and the foundation of the nation's systems in their entirety. And this all begs the question, either unwittingly or maliciously, how much damage could a president do to the American economy, and by extension the global economy. Texas, the second-largest state in the USA by landmass, population, and GDP. But perhaps being runner up is not so bad in all of these categories. Texas has for many decades been a huge driving force of prosperity, not only for the people within the state but also for all of the USA. The state provides over 40 percent of the oil production in the country which is, in turn, the largest oil-producing nation in the world. To give you an idea of just how massive this operation is, Texas produces more oil than, brazil and china combined.