Economic and Industrial Benefits of Legalization of Marijuana

The Economic and Industrial Benefits of Marijuana Legalization

The majority of states in the United States have allowed marijuana use only for medical purposes. Marijuana legalization supporters claim that the economic and industrial benefits of marijuana legalization are dependent on various factors, the first of which is the savings on reduced criminal expenses of marijuana law enforcement (Evans 2). The project will generate income and additional taxes.

Budgetary Savings: The Primary Industrial and Economic Benefit

Budgetary savings are the primary industrial and economic benefit of marijuana legalization. The government has a large budget for implementing certain drug regulations, including marijuana laws. Legalization of marijuana is expected or projected to reduce the need for police, correctional, and prosecution resource for more than 13$ billion per year (Evans 3). Consequently, legalization of marijuana will result in revenue gains. Through legalization of marijuana, the government will be able to claim to license and taxation income, and the industry is projected to raise more than 8$ billion per year (Evans 4). Marijuana will be sold under the controlled system by the government through monopoly ensuring that the state will make money.

Creation of Jobs

Additionally, legalization of marijuana would result in the creation of jobs. The industry would require individuals to keep the service going on and so the people employed will be able to sustain their families and improve their social welfare and for the community (Evans 4). This indicates that legalization of marijuana outweighs the cost primarily because the sale of the product would be through controlled measures and the will be no excessive consumptions that would result in complications (Evans 6). The government would gain through budgetary savings and revenue gains. On the other hand, the community would benefit through the creation of jobs and sale of marijuana at a controlled rate.

Work Cited

Evans, David. "The Economic Impacts of Marijuana Legalization." The Journal of Global Drug Policy and Practice, 2013, Accessed 11 May 2017.

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