A Cost-Benefit Analysis : Federal Marijuana Legislation
Nizzardini, Nicholas E.
MetadataShow full item record
This paper uses cost-benefit analysis to evaluate the effects of federal marijuana legalization in the United States. The goal of this paper is to provide insight into the complex and highly controversial issue of marijuana legalization. Firstly, the current literature is analyzed to prepare for the development of the cost-benefit analysis. The current literature includes research relating to the costs and benefits of marijuana legalization, conducted by both students and professionals. These sources do an excellent job of identifying prominent issues involved in marijuana prohibition, yet are lacking in content from the most recent developments in legislation and current data. This paper will use the literature in a supporting role and as a guide to focus on the most important aspects of the cost-benefit analysis while applying and interpreting the current data and legislation. The cost-benefit analysis focuses on policy enacted in areas of the country that have legalized marijuana consumption versus areas that have not. The paper also examines externalities and other indirect impacts of marijuana legalization that may have both positive and negative consequences. Secondly, the paper offers a recommendation for the country to implement regarding the legalization of marijuana. Lastly, the paper concludes with a critique of current policy, a discussion of the cost-benefit analysis of an end to marijuana prohibition, and how the country should precede regarding this delicate issue.