A hotly debated issue in the United States is the legalization of marijuana. Some states allow its use for medical purposes only; however, I believe that full legalization, or at least decriminalization, is an extremely logical option.

Economically, this option is viable. Not only will the legalization process save money, but it would also make money simultaneously. How though? First off, it would save extreme amounts of money, because it would drastically reduce the number of people incarcerated due to possession of the drug, intent to distribute, and whatnot. Supposedly it could reduce the deficit by $13.7 billion/year. Secondly, it would make money because of the elimination of the underground economy (or black market.)

The black market could be eliminated, because once legalized, the product will be taxed. If the underground economy collapses, not only will the product become subject to taxation, but it will also become cheaper. Once legalized, theoretically, the demand should go up because the danger and costs associated with the illegal act will decrease. Therefore, since the product will be cheaper, it can be used to produce things such as fabric, paper, detergent, fuel, and many other products much cheaper than they are being produced currently.

If allowed to help production in these ways, the legalization is once again saving money, while simultaneously making money as a cash crop. The legalization process would also greatly benefit medical patients in states without medical marijuana laws. Therefore, the proposed benefits of legalization dramatically outweigh the costs, and if this is true, why haven’t we legalized it already? It is simply the logical thing to do, especially in such dire economic times.