Marijuana and money! – The Bucknellian

As a consequence of its growing price of legalization throughout the US, the topic of marijuana has once more returned to the forefront of nationwide consciousness. As of July 2021, 18 states (plus Washington, D.C.) have legalized using marijuana, or weed, for leisure functions. Numerous different states have taken comparable initiative by legalizing marijuana for medicinal functions, and plenty of extra are projected to affix these 18 states in making weed fully authorized similar to alcohol. After we take into consideration the controversy round legalizing marijuana, one sometimes regards the well being and security precautions related to the drug together with its impairing results. However let’s take a look at weed from a complete different lens – an financial lens.

Certainly, one other consequence of mounting legalization efforts is a burgeoning marijuana business. Based mostly on the observable financial advantages exhibited in solely a number of the states, the income that may be generated if the US had been to completely legalize weed is kind of unimaginable. Elevated tax revenues, job progress and funding alternatives are all positives of the legalization motion after we undertake an financial perspective.

In 2019, leisure and medicinal marijuana gross sales in the US totaled about 12 billion {dollars}. This quantity is projected to extend to about 31 billion by 2024, in accordance with analyses by Arcview Market Analysis and BDS Analytics. Discuss blazing gross sales! Not solely is cash funneled into the business from shopping for weed itself, but additionally from the acquisition of smoking equipment. Whether or not or not it’s a bong, pen, edibles, rolling papers, or gum to defeat cottonmouth, there are quite a few merchandise that may enter the market alongside marijuana that may simply generate vital gross sales revenue.

One other financial viewpoint to contemplate is labor. The spine of the business and creating high quality hashish is the individuals who work within the dispensaries and nurseries. Marijuana manufacturing is an artwork kind, as employees are inclined to the crops and create distinctive strands and extract invaluable oils. A report by the New Frontier predicts that federally authorized marijuana nationwide legalization might generate no less than 1 million jobs by 2025. So the subsequent time your dad and mom let you know that you just’ll by no means get a job should you use marijuana, hit them with that statistic and show them improper!

Our nation is taking swift motion to embrace legalization, however we’re not fairly there. To be blunt, I consider lawmakers are negligent to embrace legalization as a consequence of having a worry of drastic change. However, change isn’t at all times so dangerous. Particularly when the change can generate satisfactory funding alternatives, employment and revenue. Get up America! (or ought to I say wake and bake.) Let’s get our economic system excessive.

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