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America is far more divided than ever before, though there is one subject about which we all seem to agree: a reform in marijuana laws needs to happen. States across the board appear to be ready and inclined to legalize marijuana, or at the very least to decriminalize it. Even sectors in the media you wouldn’t expect are on board. Naturally, associations like the National Organization for the Reform of Marijuana Laws (NORML) are pushing for marijuana laws to change, but did you know that so is the Economist, a solidly conservative publication?

Marijuana legalization seems ready to one day sweep the nation, and why not? There are a variety of reasons for its legalization: stopping the moral panic over drugs, reducing crime rates and our overall prison population and disputing the racist marijuana policy. But among all these useful reasons, one may seem like to resonate louder than the rest: legalizing marijuana would give the United States billions of dollars, giving our country’s economy a much required boost. Marijuana legalization would also largely enhance state coffers, local communities, not to mention it would save regional and state governments big amounts of money in wasted law enforcement dollars.

The most apparent economic component of the case for marijuana legalization lies in tax revenues. After all, the annual trade of marijuana is now approximated to be at $113 billion, which is about $45 billion in taxes. Tax authorities are generally in fact missing out on municipal, state and federal taxes which could provide for a broad variety of resources. The money could even be properly allocated to support plans for hard drug users, given the current incarceration rate. Also, if taking marijuana out of the black market and delivering it into the public light also offers clear savings for the government on top of net tax gains, in addition to ensuring a safe and regulated product. The drug war is well known for costing the U.S. government a remarkable sum and while these ventures encompass a vast range of Schedule I drugs (marijuana, cocaine, heroin, and meth, among others), spending to enforce the law for those illegal substances would remarkably reduce without marijuana.

Through legislation, many other aspects of debt and spending would also drop if marijuana laws were to change– first among them being prison costs. Statistically, an estimated one in four people are in prison because of a non-violent drug offense. This involves the possession, sale, and repeat offense linked to marijuana. Marijuana-related busts make up a significant portion of law enforcement actions involving drugs.

Cutting down on the number of people incarcerated for a drug-related violation also has secondary economic conveniences, by keeping people in their own communities. Systemic poverty can be directly linked to broken communities, such as those that have been torn apart by the drug war. Permitting people to remain with their family members, economically get involved in their communities and add to society enhances not only their own economic situation, but the community’s as well.

Economically, the legalization of marijuana would certainly create a ripple effect through related industries. Cultivation, farmers, farm workers, fertilizer firms, and other manufacturers of agricultural products can all benefit. In addition, given the vast power demands related with indoor growing, it’s possible that the potential spurt in marijuana cultivation could also increase the alternative energy industry– particularly as consumers push for organic and ethically created marijuana. In addition, a boost in open cultivation would decrease illegal farming, fertilizer pollution, and similar challenges, which is fundamentally better for the natural environment. Without the need to enlist the services of crews to deal with expanding operations, such marijuana producers could spend their funds more efficiently.

It appears to be somewhat paradoxical that a nation that loves to show off free market capitalism would be so backwards when it comes marijuana legalization. The web of morals and intoxicants doesn’t seem to carry an effect on the legalization of tobacco and alcohol, whose business communities continue to be greatly controlled and substantially profitable. There is some light poking through the clouds of hypocrisy, however, with Washington D.C., Oregon and Alaska now in the process of marijuana legalization. And even though the legalisation effort was shot down in Florida, it was only a bit of a setback. It appears that at this direction, these states will follow the ranks of Washington and Colorado, who have actually completely legalized marijuana.

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