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The economics behind legalization of Hemp & Cannabis

As governments begin to understand the wrong-headed thinking of prohibitions some interesting economic conditions are coming to light.

This November, in an effort to increase tax revenue, California will hold a referendum on whether or not to legalise the cultivation and use of marijuana. If passed, the change in law would be devastating to the Canadian economy, halting the flow of billions of dollars from the US into Canada and eventually forcing hundreds of thousands into unemployment.

Is it only a matter of time before Industrial Hemp is decriminalized and used to its full economic benefits?  Or is Canada going to find itself financially incentivized to encourage the US to continue its prohibition.  Should be an interesting discussion to unfold.

Read the story here:

via Marijuana may cause Canada’s economic comedown | Douglas Haddow | Comment is free | guardian.co.uk.

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