In the past couple of days there has been a big hype over legalization of marijuana in Ohio, which ultimately came down to voters opting not to legalize it. There vote wasn't because they don't want it legalized, but more so because they rejected the way the market would be regulated and operated.
Moving forward, 10 more states have now made a push for the legalization of marijuana (Nevada, California, Massachusetts, Michigan, Arizona, Vermont, Maine, Florida, Missouri and Rhode Island), all of which want to have it legalized for recreational use, except Florida who only wants it legalized for medical use. Given the reoccurring theme of this in the past couple of years, it seems as if moving forward this year will be a "watershed" for the industry and various states. In the various states there have been notable influential backers supporting the movement, such as Sean Parker co-founder of Napster, who is behind the California movement and is assisting in backing the ballot for the movement.
Overall it will be interesting to see how the voting and legislation holds up in the various states because this marijuana initiative could bring a lot of money, jobs, and industry into the American economy. The movement could help rebuild cities, such as Detroit, if Michigan were to vote yes as well as other places across the country.
http://money.cnn.com/2015/11/04/news/marijuana-legalization-2016/index.html?iid=ob_article_hotListpool&iid=obnetwork
7 comments:
As many of the states continue to make movements to legalize marijuana, it will be interesting to see what the federal government does regarding it legality federally. The drug is currently still a schedule 1 drug. It seems that it is only a matter of time before it becomes legal completely throughout the country and the federal government will have to act once majority of the states legalize it.
I think the legalization of marijuana for recreational and medical use at the state and federal level is one that is inevitable. The only question a lot of people have now is when and how long. After attending the Cannabusiness event on campus, I think this could be prove to be a very profitable market for states and the US as a whole. In addition to the economic boost, it also increases the safety of the people using and selling the drugs as well. The product goes through strenuous regulation checks and is heavily protected in retail stores. With the results that have been shown from Colorado and other states where this is already legal, I think we will only continue to see more and more of this as time passes.
I agree with Ashely. I think the legalization of marijuana for recreational use across the nation is inevitable. Even though the decision to legalize marijuana for recreational use may have failed to pass in Ohio this past Tuesday, I will not be surprised if it is on the ballot again come the next election day. I also attended the Cannabusiness lecture on campus discussing the implications of legalizing the recreational use of marijuana in the state of Washington and I think this could be a very profitable domestic market for the United States.
Overall, in the coming years, I think the legalization of marijuana for recreational and medical use will become a social norm. I think I am most curious to see when the federal government will step in and create guidelines and restrictions to the consumption and sale of marijuana. It is truly only a matter of time...
I think legalization of marijuana, for both medicinal and recreational use, is inevitable, like everyone has said. Like Kaley, I attended the Cannabusiness lecture a few weeks ago, and I found a lot of interesting information out of it. I think legalizing marijuana will help regulate the industry and make it safer for all.
I am not surprised by the turnout in Ohio. It was on the ballot on an "off" year, so I would be curious to see how it would do if it was on the ballot in 2016.
Though I don't support the legalization of marijuana, I can understand the economical side of legalizing it. I am fortunate to have Professor Breidenbach who often talks about the benefits it brings to the economy. While yes it brings jobs and more business opportunities to the area, the one who profits the most is the state. Since it is such a gray area, the state is able to tax however much they want on the products. This increase in state monetary funds could lead to them reallocating towards schooling or having more state workers, all benefiting the state economy.
I think because the U.S. economy is doing well right now, people don't see a "need" to legalize marijuana, but once we fall into harder times people might start to think differently. I can see why people do and do not want marijuana to be legalized, but eventually i see it being legalized.
I feel as if we need to examine states that have legalized Marijuana on a recreational level, namely Washington and Colorado - ir order to understand what happens when you legalize. These states now tax legal sales of recreational marijuana and use that money in their state budget, instead of expensively fighting against those who seek to use Marijuana recreationally through policing its use. Crime rates have also been shown to decrease in these states specifically relating to drug related crimes and contrary to the belief that Marijuana will function as a gateway drug, there has been a declines in class A drug use in both these states. The ban on recreational Marijuana use may be prohibiting states from truly enjoying the economic and social benefits that are clear for all to see in Washington and Colorado.
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