Demand for Marijuana
After class today when we were talking about products that are illegal to buy and sell in our country, I started to think about what the effects would be if some of these things were all of the sudden legalized. Would the demand curve shift left or right? Whether or not marijuana should be legalized is a debate that I'm sure we've all heard about, but what is the economic side of the picture? In an article I found on www.about.com, someone asks a question about marijuana legalization. The opinions as to whether this would shift the demand curve left or right varies. The author of the article thinks that the demand would go down because it is not as "cool" when it is legalized. The U.S. Drug Enforcement Agency thinks that the demand for the drug would dramatically rise as a result of being legalized. In a report called "The Budgetary Implications of Marijuana Prohibition, Jeffrey A. Miron, a Professor of Economics at Harvard University suggested that the demand for marijuana would depend on the price, which is true of many things bought in the U.S. In a report called The Economics of Cannabis Legalization, Dale Gieringer, suggests that the demand for marijuana would likely go up after legalization and even suggested another interesting point. He says, " Legalization of cannabis would also divert demand from other drugs, resulting in further savings. If legalization reduced current narcotics enforcement costs by one-third to one-fourth, it might save $6 - $9 billion per year."
It seems that everyone has a different opinion on this topic, but I wonder what really would happen if things that are illegal to buy and sell (marijuana, organs, babies, etc...) were all of the sudden legalized?
3 comments:
Personally I think that the legalization of marijuanna would help our economy. By placing taxes on the product the government would be able to make money as well as the supplier. Other contries (i.e. Amsterdamn) who have already placed a legalization of marijuanna have proved that it is a very profitable business. Also, by legalizing the product more money would be made by the average business man rather than your scuzy drug dealer. At the same time, you must also look at the point if we legalize one drug (marijuanna) than people will want to lobby for the legalization of mushrooms, acid, pills, and so on. This is a very contraversal topic but depending on your upbringing and morals it can appear to be an excellent idea.
If there is a possibility marijuanna could be legal, then the demand of marijuanna might increases, and shift to the right.
Price would get lower. because during the transpertion c Beacuse it's legal then people dont need to worry about break the law. After allit might as common as anodyne. So when you sell marijuanna as a legal drug the using direction could help people use marijuanna correctly and safely.
I have mixed feeling about the leaglization of marijuana. I do agree that if you leagalize it it would cut cost on narcotic enforcement and also you could tax it which would make money for this country. I know when we had this conversation in the 10:00 class i disagreed with som eof the reasons that why we shouldn't leagalize it especailly when some people said that it can hurt people and effect others but that is the same with alcohol,cigarettes and gambling machines but there all leagal so what is the difference with that. Well i do agree that there is never going to be a solution for this because you will always have people fighting for both things.
Post a Comment