Tuesday, January 13, 2015

LEGAL POT TURNS ONE IN COLORADO ...And the sky isn't falling


Image Credits: scubabrett22, Flickr

by MARK THORNTON | MISES.ORG | JANUARY 13, 2015

Legal recreational cannabis/marijuana/pot is almost one year old in Colorado.

The Denver Business Journal recently published a retrospective containing several articlesreviewing the experience. The general conclusion is that it has been a big success, not the tragedy some had predicted or claimed. The remarkable thing is that the report claims the biggest remaining problem for the industry is caused by the Federal Reserve!

Some of the big concerns prior to legalization have turned out to be trivial or failed to materialize at all. Expectations of overdose deaths, delinquency, and crime did not materialize to the extent that the newspaper barely reported on those issues. Crime in Denver actually declined in early reports.

Earlier this year, I examined the experience in Colorado and found that most reports were favorable to legalization. For example, the Business Insider reported that “Legalizing Weed in Colorado Is A Huge Success,”