The Effects Of Legalization Of Drugs On The Economy

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The legalization of drugs is a very controversial social topic for discussion, one that has taken the media by storm over the last couple of years. Everyone has opinion on this topic and they range from very pro to very anti. As legalization slowly becomes a reality and is seen around the world, questions begin to emerge of the effects that this legalization will have on crime, society, and the economy. With the emergence of the legalization of drugs there have been positive and negative effects happening nationally and globally, as this trend continues it will be sure to change and shape society in many different ways.
In the past two years we have seen national changes with the implementation of legalized marijuana for non-medical use
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With legalization comes easier access which could mean an increase in consumption and dependence (Caulkins et al., 2014). But legalization of marijuana would allow people to receive rehabilitation without suffering consequences of admitting to illegal behavior which is a gain for society because at this time they cannot receive the help they need without admitting to illegal activity (Gay & Ray, 2013). Legalizing marijuana will provide an increase in access for medical marijuana which can improve society (Gay & Ray, 2013). An increase in social dislocation caused by use could occur which would be a minor issue compared to the gains (Gay & Ray, 2013). Prohibition has shown our society more harm than good; increased violence, restrictions on clean needles lead to more children born HIV infected, and the fact that criminals get rich at the expense of society (Miron, 2001). Charles Rangel argues that legalization would be the downfall of our society and it’s a risk that our country cannot afford. America would send the minority communities a telltale sign that they have no desire to remove the root of the problem with drug abuse such as a sense of hopelessness that stems from poverty, unemployment, inadequate training and blight (Rangel, 1998). Our society would benefit from steering our focus of drug legalization to rebuilding schools, strengthening our teachers, improving housing, and…show more content…
Marijuana that is sold for non-medical use requires a regular sales tax, additional state and excise taxes, and possibly an additional local tax (Durkin, 2014). In Colorado, they raked in over $11.3 million in tax revenue from the sales of marijuana in the first 4 months of legalization (Durkin, 2014). The state will have huge benefits from the tax revenue collected and once they have reached $40 million they have plans to use the money for public school construction (Durkin, 2014). With the legalization of marijuana in Colorado and attempting to meet the demand, new business ventures have emerged leading to more jobs (Durkin, 2014). Legalization would require some costs to regulate however, the cost currently to regulate tobacco and alcohol are far less than what is being spent to enforce the control on illegal drugs (Caulkins et al., 2014). Marijuana accounts for a large part of drug arrests and a large amount of money goes toward those arrests leading legalization to have a significant savings (Caulkins et al., 2014). Illicit drug market brings in a staggering $500 billion a year, one of the top five largest industries worldwide (Jenner,
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