Economic Effects of Legalization of Marijuana

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A majority of those who support the legalization of marijuana hold that it should be removed from the criminal justice system. They argue that it should be regulated in a way similar to that of tobacco and alcohol. They hold that legalizing and controlling the drug will bring it under the rule of law and thus help in creating job opportunities in the formal economy (Caulkins, 2013). This, as they contend, will be better than the current state where it creates occupations in the illegal market. In addition, by legalizing marijuana, law enforcement resources would be freed for use in protecting the safety of the public. Also, local and state governments would obtain important new tax revenues from marijuana sales. The criminalization of marijuana use excessively harms people especially the youth and encourages high degrees of corruption and violence (Caulkins, 2013). This paper focuses on explaining the economic benefits of legalization of marijuana.

In “The impact of minimum legal drinking age laws on alcohol consumption, smoking, and marijuana use: Evidence from a regression discontinuity design using exact date of birth”. Yoruk, B. K., & Yorok, C. E. (2011) talk about the impact of the minimum legal drinking age laws on alcohol consumption, smoking, and marijuana use among young adults. The language is convincing and has a good amount of data. Also, this article supplies many useful terms and opinions from doctors and it is extremely professional.

In “Marijuana legalization: What everyone needs to know?” Caulkins.J.P talks about legal marijuana from a private citizen’s point of view. The author believes that, if marijuana stays illegal, the biggest beneficiaries are Mexico and criminal organizations elsewhere. . It provides ...

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...such arguments would also be made for products such as alcohol that are currently legal.

Works Cited

Caulkins, J. P. (2013). Marijuana legalization: What everyone needs to know. Oxford: Oxford University Press.

Cohen, S. (2004). Legalization of marijuana: Potential impact on youth. Pediatrics, 113(6), 1825-1826.

Hankivsky, O., Varcoe, C., & Morrow, M. H. (2007). Women's health in Canada: Critical perspectives on theory and policy. Toronto: University of Toronto Press.

Warf, C. (2005). Response to the American Academy of Pediatrics Report on legalization of marijuana. Pediatrics, 116(5), 1256-1257.

Yoruk, B. K., & Yorok, C. E. (2011). The impact of minimum legal drinking age laws on alcohol consumption, smoking, and marijuana use: Evidence from a regression discontinuity design using exact date of birth. Journal of Health Economics, 30(4), 740-752.

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