When discussing the economic potential of legalizing marijuana we tend to exclude a huge part of the picture. The plant hemp itself has more than 10,000 uses.

The number of symptoms that marijuana can be prescribed for is endless.

Potential customers include every cancer patient, anyone experiencing anxiety, suffering from depression, sleeplessness, migraines, chronic pain, even PMS.

That's before one recreational toke.

Medically speaking, the potential market share for medical marijuana is larger than for any other drug. Show me someone who doesn't have any of the ailments that marijuana can be prescribed for medically. Big companies don't want to give up their market share.

Insurance companies who right now don't pay for medical marijuana will have to start paying a hefty tab. I'm not sure, but insurance companies probably won't be too enthused to pay for everyone's marijuana. The insurance and the pharmaceutical companies both have very powerful lobbies with millions of dollars worth of influence.

The potential market for hemp products cannot be taken lightly. Hemp and marijuana are very valuable crops. It would drastically change agriculture in the United States. I doubt that if legal, the United States has the landmass to satisfy its own demand. Thomas Jefferson knew the economic power of hemp.

Foreign countries with greater landmass and cheaper labor would hijack the market becoming instant economic superpowers in the process. Sure, the United States will see a lot of revenue from the taxation of marijuana. The sales revenue from hemp will far exceed it. The government is afraid to let loose this cash cow.

The biggest determinate of quality life is economics. Power concedes nothing without a demand. By marijuana and hemp being illegal, it has made a lot of people rich.

Legalization would result in such a shift of economic power that it scares the "Haves."

Ron Binion lives in Oceanside.

Source: North County Times (CA)

Author: Ron Binion Jr.

Published: Wednesday, August 12, 2009

Copyright: 2009 North County Times

Contact: letters@nctimes.com

Website: http://www.nctimes.com/

URL: http://drugsense.org/url/4uyISW8N

CannabisNews -- Cannabis Archives

http://cannabisnews.com/news/list/cannabis.shtml