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Legalization of Cannabis

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Economics of Decriminalization or Legalization of Cannabis

Introduction
Capitalism: an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and distribution of goods that are determined mainly by competition in a few markets. This unique system allows for a merchant to market just about any product to the masses dependent on a public opinion of the commodity, legality, availability, and profitability. Some commodities, although carrying high demand are regulated heavily and sometimes even ban from the market place for reasons pertaining to public safety. Others, however, showing to be a health hazard are still allowed to remain on the market. This definition is according to Merriam-Webster.com.
This paper will focus on the economics of cannabis and how by its decriminalization, or legalization, it can be a profitable commodity in the marketplace by the following. Providing an overview of cannabis and how political games have caused an unearned negative public opinion on the commodity. Listing arguments that support the claim that by legalizing this commodity not only crime rates in general, but violent crime rates, will drop noticeably if not substantially providing a savings in the cost of enforcing and prosecuting such crimes. And, that by decriminalization, the federal government can regulate this commodity much like alcohol and tobacco providing new sources of tax revenue.
A History of Cannabis
The best way to understand the public image that cannabis has today is by looking at how we understood it yesterday. Starting from the first piece of legislation in 1906 and coming to present day medicinal approval in a small portion of US states. This will hopefully address the questions of “Why the war on drugs?”, “Why this particular commodity a drug

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