The issue of marijuana legalization is a major concern in the United States. There are numerous concerns surrounding the topic as different people seek to understand the effectiveness of the move. Marijuana legalization is controversial since different people have different views on it. To some, the legalization is economically significant while to others it would be a disadvantage to the society. Most people cannot understand the effect of the drug once it becomes legal. In addition, the issue is a major political issue that governments try to resolve to the best extent they can at any time.
Clements, K., & Zhao, X. (2009).Economics and marijuana: Consumption, pricing and legalisation. NewYork: Cambridge University Press.
The book main considers the economic impact of marijuana in the American society. It focuses on the prowess of the economic forces towards the legalization of marijuana. Economic elements would play a critical role in the extension of the legalization. The book is useful in defining significance for the topic.
Marijuana is a controversial drug and attracts massive challenge from the society. it is true that the legalization must be analyzed under the economic perspective. As an element that would influence the economy, it is wise to determine the benefits that come with the legalization. Numerous economic merits are attached to the drug. Economically the legalization would define a change as individuals determine the prices for the product under a legal platform.
Proper economic analyses would be relevant in ensuring the legalization move is well informed, and it attracts massive economic benefits.
Glauser, D. (2012, May 8). The economic effects of legalizing marijuana: IR - Theses & Dissertations 3. Retrieved November 5, 2014, from http://content.lib.utah.edu/cdm/ref/collection/etd3/id/1880
The marijuana legalization would offer a reliable platform than the decriminalization of the drug. It is true that there are massive benefits that are attached to the use of the drug legally than allowing people trade the drug illegally. The paper is an editorial journal.
Legal business operates in conditions, which are beneficial. People fetch numerous merits when they operate their businesses in a legal platform. Legalization means coming to light, and the society is likely to benefit from the move in various ways. The most evident merit is on the economic advantages.
Campaign for legalization would be effected to ensure the society does not rot in the effect of decriminalization. Necessary rules need to be passed to ensure the success of legalization in the bid to resolve the demerits of the drug legalization.
Nitti, T. (2013, September 24). Understanding The Impact Of Legalized Recreational Marijuana On State Tax Revenue. Retrieved November 5, 2014, from http://www.forbes.com/sites/anthonynitti/2013/09/24/understanding-the-impact-of- legalized-recreational-marijuana-on-state-tax-revenue/
The article revolves around arguments on the impact of the drug in tax revenue. It is good to understand that there are tax benefits of any business that is new in the country. The paper is an online article.
Once the business becomes legal, marijuana will have to attract tax. However, the tax of the marijuana trade is likely to be high since it was initially an illegal drug. People will have to stick to the drug as they bid to attract more revenue. Therefore, its legalization would mean higher income in terms of tax revenue.
If the license is to be given concerning the marijuana legalization, very high taxes must be imposed. People must be ready to pay the high tax revenue in which the government is likely to take advantage. Therefore, the legalization needs exclusive control.
Stuart, H. (2014, April 19). If You SupportLegal Marijuana, Memorize These 13 Stats. Retrieved November 5, 2014, from http://www.huffingtonpost.com/2014/04/19/benefits-legalizing- weed-by-the-numbers_n_5173785.html
The article stands on the ground of the extensive projections that are there concerning marijuana legalization. Statistics defines the path for the marijuana legalization. There are numerous changes tah are likely to take place. The paper is a website article.
There are numerous merits that come with the legalization of marijuana. The economies that will support the legalization will enjoy massive economic benefits with high tax revenues in the regions. Each region is likely to enjoy certain economic merits. However, the situation is likely to change there are massive demerits that would come with the move. The high tax revenue will be countered with the demerits of the drug.
The legalization should occur in phases to help the region learn the mistakes that they are likely to make. Also, the resolution to the mistakes would be vital. There is a need to monitor additional steps that would define the specific significance of the move.