4/20: ‘Holiday’ Success Proves the Drug War Hinders Economic Growth

legal weed drug war
April 28, 2016—The US drug war, which was allegedly ignited by Richard Nixon’s agenda, has been losing some of its prestige as states pass their own marijuana laws, effectively nullifying the federal ban on the plant.

On this past April 20th, the day weed enthusiasts celebrate their favorite “holiday,” cannabis entrepreneurs proved that the weed industry can be a lucrative, peaceful, and economically stimulating effort. But only if government gets out of the way.

On this piece on The Advocates for Self-Government, Alice Salles argues that the sales on 4/20 “prove the war on drugs is hindering economic development.”

“On April 20th, marijuana enthusiasts celebrate what they call a national holiday. With the sales of marijuana products exceeding the $37.5 million mark on this past 4/20, the ongoing efforts to put an end to the drug war and their lucrative consequences show that entrepreneurs have a lot to gain once the substance is rescheduled federally.

As US states disrupt the ongoing federal effort to put an end to drug consumption in America by passing their own marijuana legalization laws, the drug war is finally unwinding, at least partially.

According to Fox News, marijuana retailers registered a 30 percent increase in retail transactions on 4/20. The report comes from a software company that provides global cannabis businesses seed-to-sale tracking systems known as MJ Freeway. The startup, which was launched in 2010, is able to sift through data from cannabis retailers, producing an accurate analysis of 40 percent of America’s cannabis market.

As more states join the legalization bandwagon by passing recreational marijuana bills, legal retail sales are estimated to reach $6.7 billion by the end of 2016. As entrepreneurs heap the benefits, the industry promotes economic growth by offering great employment opportunities for residents of the states where weed is legal.

On April 20, MJ Freeway has disclosed, legally-licensed cannabis retail locations across the country sold $10,822 worth of products on average. The days before and after 4/20 have also seen a boost in sales. According to MJ, legal weed retailers sold $6,208 on April 19 and $5,442 on April 18 also on average.

California saw the largest dollar amount sold on April 20, beating others like Colorado and Washington, where recreational weed is legal. Colorado ended up beating all other states by having higher sales on average on April 20th.

While these numbers seem promising, it’s hard to assess just how much wealthier the country would be if all drug laws put in place in the name of an undeclared war on immoral behavior were lifted.”

Should America put an end to its addiction to the drug war? Sound off in the comments!

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