Unlike Colorado and Washington, Arizona is one of the states in America that does not legalize use of marijuana for adults over 21 years. Legalization of marijuana has both benefits and limitations. The issue of whether marijuana should be legalized has generated debate. Based on an economic perspective, it is essential for lawmakers to acknowledge that legalization of marijuana has potential economic implications to the economy. Because marijuana users become addicted, they need clinical help. The need for clinical help creates some financial implications associated with the costs for drug education. At the same time, rehabilitation centers and drug treatment programs increase with an increase in need for clinical help. At the same time, the so-called war on drugs is said to cost billions of dollars annually. Coupled with the above economic implications associated with legalization and war on drugs, lawmakers should stop sponsoring legislations that …show more content…
Therefore, the topic of legalization of marijuana in Arizona is not very important to lawmakers at the moment. In economic terms, the opportunity cost of legalizing marijuana is high than if marijuana is not legalized. Svend Rasmussen reported the Production Economics in 2012, it said the cost incurred when an economic agent makes a choice over the other is the underlying principle about the economic concept of opportunity cost. In fact, legalizing marijuana has one main benefit. According to Taboola’s commenary on CNBC News, legislators propose legalizing of marijuana in order to boost tax revenue and to address the staggering shortfall of budget deficits. Moreover, Taboola has suggested that California legalized marijuana in order to address a budget deficit of $ 42