Legal Marijuana Means More Economic Growth

The United States is facing an interesting problem when it comes to economic growth and stability. The pandemic was not kind to our economy nor the status of our health and medical industry. Unemployment rate skyrocketed during the pandemic (and is still high to this day) and many people struggled to pay their rent or other bills that kept stacking up. Consequently, the government lended lots of money to the citizens of the United States, but this will eventually need to be paid off one way or another.

When it comes to legalizing marijuana in the United States, we have already seen clear evidence that it is actually an extremely profitable business and industry. In fact, states that legalize medical and recreational marijuana enjoy much more tax revenue from the marijuana industry than other states do. In states that cannabis is illegal, they do not get any of the tax revenue from the sale of marijuana even though the black market industry is still prominent for cannabis in states that outlaw it’s sale and use. However, the other problem that the United States is facing is that the U.S. population is on a slow but steady decline. What does this mean for our country and our economy?

Well, it can actually mean a lot of things. There are currently 73 million baby boomers, 65.2 million Generation X, 72.1 million Millennials, and 68 million Generation Z. Many people assume that there are much more baby boomers than other generations, but that is actually not the case. In either case, the population growth in the United States has significantly declined over the past few generations. 

However, it is important to mention that some states have seen population growth despite the country facing population decline. What could contribute to this population growth in certain states? Well, it means that there is something in those states that makes people want to move to them. In many cases, that thing could be the legalization of marijuana. Surprisingly, the states that are seeing more people move to them from any other state are the ones that have legalized the adult use of marijuana. In contrast, people are moving out of states that are still outlawing the use of cannabis in that state. Does this mean that we are going to see the legalization of marijuana on a federal level?

I’m not totally sure. However, I can say that the population growth does not lie; simply put, people want to live in the states that have legalized marijuana in all its forms. In contrast, states that are being restrictive with cannabis laws and programs may start to lose more and more residents in the near future. States have to make laws that can attract people, or else they are going to leave. Younger generations like Millennials and Generation Z seem to value the legalization of marijuana more than others. People really enjoy being able to use marijuana both medically and recreationally. States that provide dispensaries for residents are going to see much more growth in the near future, and the marijuana industry is only going to become more popular and lucrative.

The conclusion here is that the freedom of alternative drugs and medication means that people are more willing to move to a state that allows it. States that continue to be restrictive will soon face the problem of losing younger generations who are ready to participate in the workforce, and may have trouble filling jobs and positions in that state. It makes sense, in this case, to legalize marijuana on a federal level.