Marijuana Potential Impact on the Local, National and Global Economies

Marijuana Potential Impact on the Local, National and Global Economies

Marijuana Potential Impact on the Local, National and Global Economies

Marijuana Potential Impact on the Local, National and Global Economies:Globally, marijuana is the most widely used illegal drug. The United Nations Office of Drugs and Crimes estimates that there are about 120 to 200 million cannabis users in the world (Bouchard, Decorte, & Potter, 2013). While there exist no official data on the marijuana market, estimates indicate that the sector is of substantial size. For instance, about a third of all Australians admit to having used the drug, a significant portion of the US population also uses marijuana. Additionally, estimates point out that the global populations’ expenditure on marijuana is about three-quarters that of beer (Kovic, 2014).

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The major harm that can result from the use or smoking of marijuana is respiratory related illnesses. Although the healthcare costs associated with these illnesses are borne by individuals, they can lead to increase of group insurance rates, this would in turn affect non-users (Kovic, 2014). These costs can also be easily factored into the tax policies of governments. Finally, the increased use of marijuana, particularly through smoking, would increase social health care expenditures for lung related illnesses. Consequently, governments could impose specific taxes that would directly compensate the society for the healthcare burden that marijuana users would impose (Kovic, 2014).

References
Bouchard, M., Decorte, T., & Potter, G. (2013). World Wide Weed: Global Trends in Cannabis Cultivation and its Control. Ashgate Publishing, Ltd.
Caulkins, J. P. (2012). Marijuana Legalization: What Everyone Needs to Know. Oxford University Press.

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