Economics and Marijuana by Kenneth W. Clements download in iPad, ePub, pdf
Below, we'll explore some of the key economic benefits of legal marijuana. Florida, Arkansas and North Dakota voted to allow medical marijuana while Arizona defeated that move. These jobs would likely come from the quickly growing industry which would spring up across the nation. Income and Jobs Setting up marijuana nurseries and dispensaries would be the first step for the states that voted in favor of medical marijuana. That is the carrot that dangled before many states.
Impact on Tax Revenue Better than expected sales of marijuana in Colorado and Washington over the past several years have resulted in buoyant tax revenues. Bottom Line There is ample pushback against the idea of legalizing marijuana across the country. Some are opposed to changing the regulatory status of marijuana simply because it means a change to the status quo.
Saved Money When considering the economic benefits of legal marijuana, it's important to think of the money that might be saved as well as revenue that could be generated through such a process. All of these reasons combine to decrease the likelihood that marijuana will become legal at a national level any time soon. Workers would be needed to farm, process, distribute, and sell marijuana-based products. As marijuana becomes legal in more and more parts of the country, it's likely that the price will drop overall as a result of commoditization. Should the growth rates for the cannabis space continue as they have in recent years, it's likely that investors would express a keen interest in the industry.
In the case of states like California and Nevada where such infrastructure already exists, the economic impact has become more quantifiable as the sector has matured. Further, there would be ample opportunities for secondary industries which were related to legal cannabis although not directly involved in its production and distribution.
These would not only create jobs but also set the ball rolling for economic activity in the pot industry in these areas. The economic benefits of legalizing weed have already been apparent as the first states have moved to change their legal positions.