Maybe legalizing weed wasn’t such a great idea
Depending on where you live and how you want to use it, it is pretty easy to get marijuana in the U.S. At first medical marijuana, which has legitimate palliative uses, achieved widespread acceptance.
Over time, however, the requirements for proof of medical use weakened, leading to de facto legalization in many areas. Now 24 states plus the District of Columbia, representing half the country’s population, have approved legalization for recreational use.
And yet the key question remains unanswered: Is this really a good idea?
Read more here. Source – Stars and Stripes
Summary:
This piece, written by Tyler Cowen for Bloomberg Opinion, discusses the effects of marijuana legalization in the United States. Here’s a summary of the key points:
- Marijuana legalization has become widespread in the U.S., with 24 states and D.C. approving it for recreational use.
- A recent study from the Federal Reserve Bank of Kansas City provides data on the effects of legalization:
- Positive economic impacts: 3% income growth, 6% increase in home prices, and 2% population growth in states that legalized marijuana.
- Negative social impacts: 28% increase in self-reported usage, 17% increase in substance use disorders, 35% increase in chronic homelessness, and 13% increase in arrests.
- The author expresses concerns about these results, noting that they don’t align with advocates’ promises of ending black markets and creating a safer environment for users.
- Cowen acknowledges the libertarian argument against criminalizing self-regarding behavior but also expresses concern about practices that may lower effective IQ.
- The author concludes that marijuana legalization has been disappointing so far and suggests that some governments might reconsider their legalization policies.
- Cowen calls for developing a more workable version of marijuana legalization, acknowledging that this won’t be an easy task.
The article presents a balanced view, weighing both the economic benefits and social costs of marijuana legalization, and ultimately calls for a more nuanced approach to the issue.
