Can the Rhino be Saved?
Gold is not the most expensive commodity in the world
despite its phenomenal increase in price over the past few years. Gold is going
currently at about $1600 per ounce while the Rhino horn fetches $29485 per
pound. Yes you heard it right, rhino horn is going for about $1843 per ounce
and the demand is strong.
It has been estimated that so far in 2013 two rhinos are
shot illegally each day. The reason is essentially the Chinese demand for the
horns that are used as medical ingredients. Some scientists believe that unless
some very strong measures are taken to protect the remaining rhinos then they
would become extinct in captivity in the next 20 years or so.
But why is that so if the rhino has been legally protected
since 1977? Simply because to pass a law is one thing and to implement it is a
completely different issue. In this case it is hoped that economics can come to
the rescue just as it did for the crocodiles. The suggestion is to legalize the
trade in rhino horns by setting up a legal market. Economists, at least some of
them, have been arguing for years that the illicit drug trade will not be
curbed until drugs became legalized. The rationale behind these arguments is
quite simple. Restrictions on rhino horn, just like restrictions on drugs, have
failed to address the demand side of the equation. Unfortunately given
sufficient demand will eventually attract enough supply by making risk taking
profitable; sell rhino horn at a price that is more expensive than gold.
