Wednesday, November 14, 2012

Marijuana legalized in the US, Europe to follow?

Good morning economists. Well, it seems that more people are now supporting the legalization of marijuana. In the past, the drug was legal for medical use but states like Colorado are now passing initiatives to legalize pot for recreational use. In Europe, marijuana is legal in Holland but with an estimated 1,7 billion dollars worth of merchandise being sold in 2011 alone, I am wondering whether other countries may be tempted to legalize it as well. Economic reasons alone could lead to legalization as in the midst of the recession taxing marijuana may be in the best interest of public economics.

A drug dealer in Brooklyn New York, who wished to remain anonymous donated half of the money he made in two days from the sale of marijuana to victims of hurricane Sandy. He donated 700 dollars, which means that his monthly income is estimated at 21,000 dollars. That's a lot of money to tax!
Meanwhile, investors are looking for ways to take advantage of this wave of legalization. Already, people are buying shares from medical companies that produce machines that identify people who are eligible to receive their dosage of the drug via fingerprints. It will be interesting to see what other types of companies will enter the stock exchange. Meanwhile the market price of a regular legal dose is 12 dollars.

Have a nice day!

1 comment:

  1. A drug dealer in Brooklyn New York, who wished to remain anonymous donated half of the money he made in two days from the sale of marijuana to victims of hurricane Sandy. He donated 700 dollars, herb grinder reviews

    ReplyDelete