Topic > The Economic Benefits of Marijuana Legalization

"There are two sides to every story and the truth usually lies somewhere in the middle." – Jean Gati Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay There is the “War on Drugs” on the one hand and the legalization of marijuana as a response to the failures of this war. The marijuana legalization binge has led to a reconsideration of US drug policy and how it should change; while people seek discretion for vindictive criminal justice policies that have failed at great cost to the nation's liberty and finances. In this article by German Lopez 1, celebrations are underway to declare 2018 as the year marijuana legalization won. In recent years, support for legalizing marijuana has reached an inflection point and a majority of Americans have given a resounding yes. The article references a Gallup poll insinuating that support for legalization has increased from 12% in 1969 to 31% in 2000 to 64% in 2017. California recently allowed a recreational marijuana industry. A state more crowded and richer than any legal marijuana market; this decision was revolutionary. Helps the marijuana industry earn more profits; to carry out political campaigning and lobbying which would in turn help them play an important role in the drug policy reform movement. The second article “A Case Against Marijuana” by David Leonhardt 2 is the counter point of view that challenges the public's not very well proven notion that marijuana is not very harmful. This perception that weed is harmless increases the risk of abuse and addiction. Users enter a comfort zone and develop a habit that ultimately makes them uncomfortable. The effects of marijuana legalization are mixed to say the least, and in the storm of legalization, have we done “enough” research on it? What would it mean to create an entirely new industry that encourages much greater use of mind-altering drugs? Is all this wishful thinking or do we have predictions that fall within the high percentage confidence interval? The Colorado numbers were presented in the article as a rebuttal to legalization. Like it or not, the economic benefits of marijuana legalization are undeniable. It is not possible to discuss the hard, hard facts that highlight how states like Colorado and Washington have booming economies after legalizing and taxing recreational marijuana. Marijuana legalization enriches the revenues of individual states and the federal government, creates jobs, benefits investors with a potential listing on reputable US stock exchanges, improves liquidity and promotes reporting metrics. New Frontier Data released a report in 2017 estimating that immediate legalization of marijuana at the federal level would raise $131.8 billion in aggregate federal tax revenue and create 1.1 million jobs between 2017 and 2025. A billion-dollar industry, less visible – but arguably of equal importance – are the myriad ways it impacts society. By taking control of marijuana distribution, legalization could reduce the thriving black drug market, which is potentially the cause of a large amount of illegal activity, as indicated by the rate of marijuana-related crimes reported by police. Approval can address social issues such as the dangerous environment created by illegal drug distribution and the consequences,.