Legalization of Marijuana

Legalization of Marijuana

In economics, a mixed market economy is one in which the actions of private businesses are affected by public actions and decisions. In the United States, there are governmental actions that decided just how much intervention will be used on a business. This is a redundant topic, as the two political parties, Republican and Democrat, debate the issue frequently. The idea of “laissez-faire” is a free market economy where businesses have the right to do whatever they want. Republicans tend to lean towards this ideal, while Democrats call for more governmental intervention on businesses. When deciding just how much control will be used, one must look at all the benefits and costs. Not only must economic benefits be asserted, but moral and social benefits and costs must be taken into consideration. A topic that many people have been contemplating is the legalization of marijuana. Many people believe that the legalization of marijuana with a high tax is sensible because it would place the demand curve in the same place as if it were criminalized, except with a tax the government would make money from the tax revenue. However, the issue of morality and then the costs and benefits to society must be taken into consideration to decide whether it should be legalized or not.

Microeconomics always poses the questions of “What good to produce,” “How to Produce this good,” and “For whom should this good be produced?” In this case, the “What” that gets produced is marijuana in a private market. “How” this would be produced depends on the ideal of the economy. In a laissez-faire economy, the market would determine how much and if machines would be used to grow and tend marijuana. People would have the freedom to purchase marijuana, and no one would be forced into buying it if they had moral believes against it. The problem that arises in this situation is the idea of public safety and morality against freedom of businesses. Many people would feel unsafe because marijuana is known as a “gateway” drug, leading people into a life of addiction to more serious drugs. In addition, many believe that because marijuana is in fact a drug it is morally unjust to use it. On the other hand, some people believe that business should have freedom to a “free market” and should ultimately be able to sell whatever they please. In addition, the legalization of marijuana could be beneficial to the government economically. Overall, the government is presented with a tough decision of weighing the costs and benefits.

As far as the legalization of marijuana goes, there are three options that the government can choose. The three options all have their own advantages and disadvantages that are compared and weighed. The first option is the current one of complete criminalization of marijuana. This option provides safety for the public, while limiting the freedoms of business. The second option that the government has is the legalization of marijuana with the imposition of a tax. This idea provides a bit of safety, because it can regulate the demand through price and makes the government tax revenue, but many people feel that it is wrong for the government to be profiting from the trade of a drug. The last option is the one of a complete free market. This ideal allows freedom of businesses, but is generally unsafe and promotes the use of drugs. The costs and benefits must be weighed out in order to see which option provides the best situation for the country.

In the option of having the complete criminalization of marijuana, the right to freedom is completely violated. One does not have the right to do as he pleases, because he would be breaking the law. In addition, the cost of police force is expensive. Tax payers are forced to pay higher taxes for police force to monitor, prosecute and incarcerate those convicted. Because so much time of the police is going into monitoring marijuana, more serious crimes are often missed such as murder and rape. This idea is not fair, in the sense that if some states banned marijuana and others did not, then those with money could travel to other states. On the other hand, a complete banning makes people feel safe, although a black market could develop. Many feel that marijuana is unsafe because it impairs one’s judgments and leads them into other drugs. Also, society in general believes that the use of “drugs” is morally wrong. By making marijuana illegal, the government would be discouraging the act of doing something that is “wrong.”

An option many people have recognized as “efficient,” is the one of legalizing marijuana with the inference of a high tax. The idea of a high tax would be in order to limit the amount of quantity demanded, by