Economic Effects Of Legalizing Marijuana
Economic Effects of Marijuana Legalization Nationally:
Beneficial or Detrimental?
Denzel J. Frazier
ABSTRACT
Economic Effects of Marijuana Legalization Nationally:
Beneficial or Detrimental?
If I told you that the antidote for the astonishing United States federal debt estimated to trickle right under twenty trillion dollars. Conspiracy? No such. This substance has crept from the grasp of hippie hopefuls as well as the hip hop underworld and has landed on the desk of politicians across the United States. The not-so touchy, yet touchy subject would create a nest of economic prosperity that could go to deplete the monetary anxieties that the United States …show more content…
From an economic standpoint, production is the key to eliminating debt. In 2015, the legal marijuana industry in Colorado created more than 18,000 new full-time jobs and generated $2.4 billion in economic activity, according to a first-of-its-kind analysis of the economics of legal cannabis in the state. The study, conducted by the economic consulting firm Marijuana Policy Group, is based on two years of sales numbers from the state of Colorado. It measured both the direct effects of legalization including close to $1 billion in retail sales in 2015 and the industry's spillover effects on the Colorado economy. These indirect impacts of marijuana legalization came from increased demand on local goods and services: growers rent warehouse space and purchase sophisticating lighting and irrigation equipment, for instance. Marijuana retailers similarly rely on other companies, like contractors, lawyers and book-keeping services, to conduct their own …show more content…
(2016, May 19). High Dive : Are we creating "Big Marijuana" TEDxOrcasIsland. Retrieved April 02, 2017, from https://www.youtube.com/watch?v=0M4Fse1Ioaw
Caulkins, J. P. (2012). Marijuana Legalization: What Everyone Needs to Know. New York, NY:
Oxford University Press.
Ekins, G., & Henchman, J. (2016, March 12). Marijuana Tax Legalization and Federal Revenue.
Retrieved April 08, 2017, from https://taxfoundation.org/marijuana-tax-legalization-federal-revenue/
Gerber, R. J. (2004). Legalizing Marijuana: Drug Policy Reform and Prohibition Politics.
Westport (Conn.): Praeger.
Hajizadeh, M. (2016). Legalizing and Regulating Marijuana in Canada: Review of Potential
Economic, Social, and Health Impacts. International Journal of Health Policy and Management, 5(8), 453-456. doi:10.15171/ijhpm.2016.63
Holowach, J. (Director). (2008). High: The True Tale of American [Motion picture on DVD]. United States: Terra Entertainment.
Ingraham, C. (2016, October 28). Legal Marijuana Created More Than 18,000 Jobs in Colorado
Last Year. Charleston Gazette. Retrieved April 8, 2017.
Lukitsch, B. (2017, March 28). Public Finds Most Illinois Voters Davor Marijuana
Decriminalization, Legalization. UWIRE text, p. P.1. Retrieved April 8,
Beneficial or Detrimental?
Denzel J. Frazier
ABSTRACT
Economic Effects of Marijuana Legalization Nationally:
Beneficial or Detrimental?
If I told you that the antidote for the astonishing United States federal debt estimated to trickle right under twenty trillion dollars. Conspiracy? No such. This substance has crept from the grasp of hippie hopefuls as well as the hip hop underworld and has landed on the desk of politicians across the United States. The not-so touchy, yet touchy subject would create a nest of economic prosperity that could go to deplete the monetary anxieties that the United States …show more content…
From an economic standpoint, production is the key to eliminating debt. In 2015, the legal marijuana industry in Colorado created more than 18,000 new full-time jobs and generated $2.4 billion in economic activity, according to a first-of-its-kind analysis of the economics of legal cannabis in the state. The study, conducted by the economic consulting firm Marijuana Policy Group, is based on two years of sales numbers from the state of Colorado. It measured both the direct effects of legalization including close to $1 billion in retail sales in 2015 and the industry's spillover effects on the Colorado economy. These indirect impacts of marijuana legalization came from increased demand on local goods and services: growers rent warehouse space and purchase sophisticating lighting and irrigation equipment, for instance. Marijuana retailers similarly rely on other companies, like contractors, lawyers and book-keeping services, to conduct their own …show more content…
(2016, May 19). High Dive : Are we creating "Big Marijuana" TEDxOrcasIsland. Retrieved April 02, 2017, from https://www.youtube.com/watch?v=0M4Fse1Ioaw
Caulkins, J. P. (2012). Marijuana Legalization: What Everyone Needs to Know. New York, NY:
Oxford University Press.
Ekins, G., & Henchman, J. (2016, March 12). Marijuana Tax Legalization and Federal Revenue.
Retrieved April 08, 2017, from https://taxfoundation.org/marijuana-tax-legalization-federal-revenue/
Gerber, R. J. (2004). Legalizing Marijuana: Drug Policy Reform and Prohibition Politics.
Westport (Conn.): Praeger.
Hajizadeh, M. (2016). Legalizing and Regulating Marijuana in Canada: Review of Potential
Economic, Social, and Health Impacts. International Journal of Health Policy and Management, 5(8), 453-456. doi:10.15171/ijhpm.2016.63
Holowach, J. (Director). (2008). High: The True Tale of American [Motion picture on DVD]. United States: Terra Entertainment.
Ingraham, C. (2016, October 28). Legal Marijuana Created More Than 18,000 Jobs in Colorado
Last Year. Charleston Gazette. Retrieved April 8, 2017.
Lukitsch, B. (2017, March 28). Public Finds Most Illinois Voters Davor Marijuana
Decriminalization, Legalization. UWIRE text, p. P.1. Retrieved April 8,