People in Urugay began lining up recently at pharmacies last week, and it's not because band-aids are on sale. Uruguay became the first country in the world to legalize and regulate a countrywide cannabis industry. Pushing away the crime related to trafficking, the country hopes that this legalization effort will push homicide rates down significantly.

Related: ICC Approved for Additional 494 Cultivation Acres in Uruguay

According to the European Coalition for Just and Effective Drug Policies, "cannabis users can buy a maximum of 40 grams per month, provided they are Uruguayan citizens of at least 18 years old and registered in a public database." As reported by the Associated Press, "authorities say nearly 5-thousand people have registered as consumers, allowing them to buy up to 40 grams per month. About two-thirds of them live in Montevideo." We believe that Uruguay will act as a perfect petri dish to show the positive socioeconomic effects of legalization and regulation.

The best part of the Uruguayan program is the price of the cannabis. The Associated Press reports that "the price is set at the equivalent of 1.30 US dollars per gram, with 90 cents of that going to the two businesses chosen to cultivate marijuana." The remaining portion is split between the Uruguayan government and the pharmacies.



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