How Does Marijuana Affect The Economy

The legalization of marijuana in the United States has created a large impact on the economy. Ever since marijuana’s introduction to the U.S in 1611, there has been controversy over use and legalization of the drug. While few selective states currently allow marijuana production and distribution, the remaining states still question the harmlessness and usefulness of this particular drug; therefore, it remains illegal in the majority of the nation. The states who first started the movement towards legalization included Colorado, Oregon, and Washington. Marijuana dispensaries were set in place as stores for people to go and buy marijuana, almost acting like a grocery store but for pot. Dispensaries allow for easy access for people over the age

If the all states in America decided to make marijuana legal then the nation's economy would boom. The state has already seen a positive effect since making the drug legal as noted in Marijuana's $2.4 billion impact in Colorado is a lesson for 5 states considering legalization, written by Alan Pyke, a Deputy Economic Editor for ThinkProgress.org. In this article Pyke discusses the impact tax revenue money from marijuana has had on Colorado’s economy, also noting that since the legalization, marijuana has generated 2.4 billion dollars for the state of Colorado. Furthermore, the surrounding industries in Colorado have not come close to the amount of production and tax revenue brought in by the marijuana industry, surpassing local industries by almost ninety-nine percent. In addition, other states on the border of legalizing recreational marijuana will look at the impact it has had and may want to follow Colorado's lead and legalize. A substantial amount of revenue would be generated if Arizona decided to make recreational marijuana legal. For example, if Arizona legalized pot the sales volume would generate around 119 million and 760 million dollars in two years

This is one problem the U.S. could face in the coming years if marijuana does become legal to use recreationally across the country. A current issue the U.S government is facing is the excess amount of spending on incarcerating pot users, spending over one billion dollars and most arrests were simply for possession. Thus legalizing marijuana in all states could save the economy a large amount of cash. Melody Wang, editor at Yale University, overviews the recreational marijuana legalization process and expresses what policy considerations the U.S. government may need to take if the growth of the pot industry continues to rise. Also government tax revenues play a crucial role in the argument of legalizing marijuana across the states. Additionally, the potential legalization for growing marijuana may also result in decreased law enforcement expenses and decreased rates of violent crime due to the effects of marijuana has on the body. As marijuana becomes more popular, prices of the product could potentially become the same cost of production. Meaning the government could possibly lose money if they are not careful with who and how much can be produced at a time. Supporting additional studies proving medical marijuana has and could potentially have a greater