The Legalization Of Marijuana Term paper

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In the 1960’s, Humbolt County, CA was in a state of recession. The county’s main form of industry (logging) had all but closed down, and the residents were facing a countywide depression. However, by the early 1980’s, Humbolt’s economy was flourishing. Although the expansion couldn’t be found on the reported per capita income, somehow money was being spread throughout the economy. Where did this money come from? Humbolt County is a perfect spot for marijuana to be grown, and it was the money that the growers had been making that was keeping the economy going. After the government began to heavily enforce drug laws in this area, the county went back into its state of depression, and the financial aid that the marijuana growers could have added to the economy was disposed of (Rosenthal, p. 37). Although the legalization of marijuana might have some adverse affects on the economy, the pros of legalization far outweigh the cons.

There are many economic reasons proving that legalizing marijuana would help our economy, some relate directly and others indirectly. The first thing that one must look at when considering the pros of legalization would have to be the direct benefits. The direct benefits are going to be the astronomical amount of money the government would make in taxes, sales etc. (Marshal, p. 92). First of all, if marijuana were legalized the first thing that would happen would be a drop in the price of the drug. The price would drop due to the fact that it would no longer have to be sold on the black market (Rosenthal, p. 38). The cheaper price and greater availability would mean increased usage. It is estimated, that if marijuana were legalized, and prices were dropped a fair 50% and usage increased only a little bit, marijuana sales could gross anywhere from $50-$53 billion dollars (Rosenthal, p. 39). That right there is a huge amount of money that would no doubt aid the United States’ economy. However, there are other direct benefits to consider. The $50-$53 billion would only come from sales alone. The government could make more money by charging vice, manufacturing and state taxes. It is believed that taxes and fees such as these would gross about another $7-$10 billion (Rosenthal, p. 39).

Many other benefits could also be directly related to the legalization of marijuana. If it were legalized, it would create a whole new industry. And of course, this new industry would need employees, which means more jobs for the unemployed (Maertz, Jim “interview w/ Ms. Wara, 10/29/98). Also with this new industry would come the ability to legally export this drug. Due to the advancements in American farm technology it is believed that we would become main exporters of marijuana. Rather then spending about $5-$7 billion per year on illegally importing the drug, legalization would probably generate about $60 million to $1 billion dollars, and at the same time save that $5-$7 billion spent on importation. The legalization of marijuana could help balance the U.S. trade deficit (Rosenthal, p. 42). Obviously the direct affects of legalized marijuana would aid our economy. However, the indirect benefits of legalization would also help dramatically.

If marijuana were made legal, it would send economic ripples throughout the U.S. that would create a better economy (Marshal, p. 83). For example, related paraphernalia would see an increase in demand (i.e. pipes, bongs, etc). More money would be spent on these or items like these, which means a better economy (Rosenthal, p. 39). Another factor we must consider, would be hemp. Hemp is a non-psychoactive form of marijuana; the only reason it is outlawed is because it is similar to marijuana in some aspects but not all. The only real reason it is against the law is to make enforcing marijuana laws easier (no gray areas of the law). But hemp has many practical applications in the world today. Hemp contains the one of the strongest fibers in the plant kingdom; it could be used for either industrial or commercial applications. It is also used to make a non-deteriorating paper, that is pollution free. After pressing hemp seeds, the result is a good animal feed; in central Asia it this seed has even been used for human consumption (Rosenthal, p. 42). There are countless economic ripples such as these that would help out the economy, but when looking at the economy as a whole, we can’t only look at how much we bring in.

It is obvious that both direct and indirect revenues would aid our economy, however, we must also look at the amount of money we would save if marijuana were legalized. Of course...

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