Prohibition has taken a heavy toll on society. While many marijuana law reform advocates rightly focus on how the pot ban has criminalized large segments of the population, it’s also had a disastrous impact on the US economy.
In states where medical or recreational cannabis has been legalized, employment has increased. Retail sales in Colorado alone have created more than 10,000 jobs in three years – jobs previously unavailable under prohibition. Also, pot busts prevent otherwise capable employees from finding work due to imprisonment or arrest records.
Loss of Markets
The United States is getting trounced in the global markets. America already trails Canada, Europe and China when it comes to hemp production – even India is set to become a major player. Meanwhile, the US is in danger of becoming No. 3 in North America when it comes to reefer reform, as both Canada and Mexico stand poised to legalize recreational ganja nationwide.
Marijuana’s health benefits have long been ignored because the Feds prohibit its study. To take just one example: The medical journal Obesity linked cannabis use to reduced body-mass index and fat mass, while a 2010 Brookings Institution study estimated the total cost of American obesity at a belt-busting $215 billion per year. Obviously, a less healthy society is also one that’s less productive economically.
Lost Tax Revenue
Prohibition’s effect on the economy is a complex issue, but two points stand out: Taxpayer dollars spent on arresting, prosecuting and imprisoning nonviolent marijuana offenders are completely wasted, even as prohibition costs governments the revenue that could come from taxing legal marijuana sales. A 2007 Marijuana Policy Almanac study found that these two factors ripped off American taxpayers for $42 billion annually, an amount that’s surely risen in the past decade.
Many municipalities have been brainwashed into opposing cannabusinesses. For example, neighborhood groups on the economically depressed South Side of Chicago were so irrationally opposed to medical pot that it took until May 2016 for a dispensary to open. But data show that legal marijuana businesses improve areas of blight. Downtown warehouses, once neglected and empty, now host large-scale grows, generating revenue.
For all HIGH TIMES’ business coverage, click here.
FBI Data Shows Cannabis Arrests are on the Rise for Second Year in a Row
Activists in Oregon Fight for the Public Consumption of Cannabis on 2019 Ballot
Thai Police Give Researchers 220 Pounds Of Seized Marijuana
Police in Massachusetts Make Super Troopers Reference After Recovering Two Pounds of Weed
Malaysian Court Sentences Man to Death for Distributing Free Cannabis Oil
Canadian Dispensary Clerk Fights off Three Burglars With a Giant Bong
Hot Pot Products: 4 Must-Haves for Cannabis Cultivators
Study Suggests CBD May Have Antipsychotic Effect in High-Risk Individuals
Guides7 days ago
What Do The Colors of Marijuana Mean?
Celebrities6 days ago
Kristen Bell Opens Up About Weekly Cannabis Use and Exploring Other Drugs
Strains5 days ago
9 Colorful Weed Strains To Brighten Your Day
News5 days ago
First Clinical Trial of MDMA Treatment for Autistic Adults Sees Success
News6 days ago
New Report Says Concentrates are the Fast Growing Favorite Among Consumers
News5 days ago
Study Finds Magic Mushrooms Could Aid in Smoking Cessation
Dispensaries5 days ago
First Medical Cannabis Dispensary Set to Open in Brooklyn By End of Year
News4 days ago
Canada Estimates $1 Billion in Legal Cannabis Sales in First Three Months