Any practice that includes mass slaughter of a species should be made illegal. The number one threat to the elephant species is the mass slaughter for their ivory tusks. The elephants, once their tusks are harvested, are left to rot. Ivory, though beautiful, is not worth the extinction of such magnificent creatures.
Elephants are living creatures, who, like human beings, have been exploited by a merciless form of economic activity that turns the living earth and its inhabitants into used up shells of their former selves. The ivory trade encourages poaching elephants for a relatively small portion of their body, and discarding the rest. It is a brutal trade that is harming these animals and their environment, and these trade bans should be put in place.
Yes, I do think that it is good to ban the trade of ivory, because when you could trade this substance, the poachers if Africa were completely whiping out all of the elephants and rhinos, so something had to be done fast to make sure that it was being stopped.
Ivory isn't such a rare and precious commodity anymore. If the laws changed, sellers could procure it from humane sources, such as remnants shed from deceased animals in zoos and wildlife preserves or tusks routinely trimmed from elephants kept in captivity. A ready supply would drive down illicit demand. Between global trade and knowledgeable consumers, the market would favor humane, responsible ivory acquisition.
Legalizing an ivory trade and legalizing the ownership of ivory producing creatures will decrease poaching and increase these products availability as incentive switch from poaching (tragedy of the commons) to cultivation. Any animal that is owned and cultivated is also one that is not on the endangered species list. Thus, legal ivory trade and ownership of ivory producing animals is the most sensible and justifiable directions.