Dr. Dale Gieringer wrote a theses on the Economics of Cannabis Legalization Detailed Analysis of the Benefits of Ending Cannabis Prohibition. His work covers the case for legalization, the cheapest intoxicant, putting a value on cannabis, computing a harmfulness tax, and revenues from legalization. The revenues from legalization caught my eye because it explains that not only marijuana would be the only source of revenue if it were legalized. Dr. Grierger brings up a good point of how marijuana won’t be the only source of revenue of legalized:
“In addition, legalization would create numerous revenue-generating spinoff industries, such as coffee houses, gardening equipment and paraphernalia.”
The variety of sources of incomes will lead to a boost in the economy, not to mention the creation of jobs.
He also mentions how “legalization would save the considerable economic and social costs of the current criminal prohibition system.”
This would be a good article to spin off the idea of how much money Louisiana devotes to prisons and arrests.