Changes in policies across some countries that legalize marijuana for both medicinal and recreational use shows a broader acceptance of our society.Marijuana also known as pot, weed, ganja is as a greenish-gray mixture of cannabis sativa. It can be smoked, eaten, brewed and even taken topically but most people prefer to drag it. The chemical content in marijuana called 9-tetrahydrocannabinol has increased over the years according to research by the Potency Monitoring Project. Its increased potency has made it difficult to study the long term and short-term effects.

A study by USA National Survey on Drug Use and health in 2010 found that at least 17.4 million people have used marijuana in the past month. In a 2016 Gallop poll at least one in eight people use pot, and 43% of US adults admit to using it. This survey suggests that it has become quite a popular drug to use. In 2018 at least ten states plus D.C legalized marijuana for recreational use, and thirty-three states have legalized marijuana for medicinal use. Canada also legalized marijuana for recreational use as of 2018.

However federal law in the states still categorizes marijuana in schedule 2 under the scheduling system; this means it has no medicinal value and has the potential for abuse. The scheduling system has two distinct groups the medical and non-medical. The non- medical group is in schedule 1 that is considered to have no medicinal value and has the potential for abuse. The medical group is in plan 2-5 which has some medical value and are numerically ranked based on the potential for damage from the highest to the lowest. (

While the calls for rescheduling of the drug is high, they cannot reschedule it until there is a clinical trial on a larger scale. The experiments are required to prove to the federal government that the drug has medicinal value. However, since the drug schedule is in category 1, the large-scale clinical trial cannot be conducted.

In every criminal justice system, the impact and costs of implementing and enforcing drug laws can be monetized. While many justice systems have not listed any loss of such enforcement however research by Harvard economist Jeffery Miron who has written policy papers that estimate the reduced expenditure in terms of prosecutorial, judicial, correctional and police resource will reduce significantly. He approximated the reduction to be between 7.7- 13 billion dollars per year; this is despite the loss in revenue in terms of the collection of fines and asset forfeitures. The estimates consider inflation and growth in terms of enforcement of the laws.

The impact of tax revenue on a country is one of the argued benefits of legalization. It provides a legal way in which the government can collect taxes from the sale of the drug. The drug is in high demand across many countries, and this can yield significant revenue for the state. Free market for the purchase of cannabis is unusually low, and high taxes would keep the price in competition with other intoxicants. The taxation revenue in states like Colorado estimates that in the first two years after legislation the state sells in both medical and recreational drug for up to $1 billion and the state has collected about $135 million in tax revenue and fees. The generated amount could be used for funds to assist state schools and programs that regulate substance abuse.

Research conducted by Canadian bank of Commerce (CIBC) and world markets estimates that the legislation of marijuana could create a $10 billion industry and that the government may collect at least 50% or more on tax revenue. The statistics mean that it will create more jobs in terms of growing and packaging of the product. In turn, jobs creation for individuals who will educate and promote healthy living for the users of the drug.

Regulated use and sell marijuana reduceillicit sell and dosing of marijuana products to consumers. If the government has control of the sell and production, it will pass through a different system of checks that means regulations in place will give the health and safety code set. Therefore, a safer product for consumers thus protecting the workforce for the government. Regulations also put a restriction on selling the product to minors and marijuana will be sold at centers that have approval by the government. There will be restrictions on public consumption of weed.

Creation of jobs by the marijuana industry means that the workers will receive protection under labor laws. The illegal market in states meant that most that worked in the industry had poor working conditions and had no necessary protection of their rights. Most could not report of unpaid labor or sexual harassment and injuries in the workplace because the nature of the work means they are criminally liable under federal law.

The necessity of legislation and regulation of marijuana and its benefits and impacts of the economy brings more questions than answers. Although it is necessary to tax marijuana the overall effects on negative aspects of using marijuana is not well known. The variations and changes in demand and supply in states that have implemented it means we cannot calculate the overall economic benefits in a country. Meanwhile, health impacts and cost of productivity will be high and will burden consumers. The research trials did not factor in the cost of legalization and the cost of regulation of the sell and use of the drug.

CONCLUSION

Estimates of the economic benefits of legislation did not consider a lot of losses. The will be for example the cost to review existing laws or repealing them. While the price of criminalizing marijuana has reduced but it did not factor in the implementation of various restrictions to the production and growth of it. The inclusion of the cost testing and taxing of marijuana was not in the research calculations. While it is impossible to calculate this cost at the time without it being tested in the public and estimating its impact but we cannot ignore the adverse effects it will have on the use and abuse of marijuana. The adverse impact on consumers health are essential before any legislative changes. Although the support to legislate is increasing we can conclusively estimate the biggest benefactor of legislation will be the corporation that will grow, distribute, sell and export marijuana they will most definitely profit.

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