Canadian government officials announced their plan to legalize marijuana in Canada by July 2018 on Thursday. Canada has taken a play from the American playbook by leaving the details of marijuana legalization up to individual provinces, but recreational use of marijuana will be legal nationwide, so how will it impact America?
More supply of marijuana
The obvious impact would be more supply of marijuana, which will make it’s way south of the Canadian border via the black market since America still classifies marijuana as a Schedule I drug, like heroin and Ecstasy. While just two Canadian-bordering states (Washington and Maine) have legalized marijuana, only Idaho and Wisconsin have yet to legalize medical marijuana. So many of the Canadian-bordering states already have an increased supply of marijuana due to medical marijuana policies, which would mitigate the chance of Canadian grass making its way into America. But the reason marijuana prohibition is ending in Canada is because it doesn’t keep drugs out of the hands of kids and only allows a black market to not only form but thrive. Prohibition doesn’t keep people from using drugs. Prohibition only makes drugs more expensive and results in violence when black marketers fight for a larger piece of the inflated market valuation. Canada’s legalization of marijuana puts them at a unique advantage to capitalize on an emerging market...
Canada’s legalization of marijuana nationwide puts it in a great position to capitalize on cannabis exports to nations that legalize marijuana use but don’t have the means to meet demand. Uruguay is the only country to legalize consumption, cultivation, transportation and sale of cannabis, but all of its available market comes from cannabis grown by Uruguayan authorities. That won’t last. As more and more countries move toward legalization, Canada, and not America, will be best positioned to capitalize on the export of edibles, waxes, and even bud. Canada is apparently three or four years ahead of any other country when it comes to the scale of cannabis companies created. It’s a great opportunity to eventually increase the gross domestic product of Canada.
More U.S. states will legalize marijuana
Nothing is going to stop the momentum of the marijuana legalization movement in America, and Canada’s legalization policy will only fuel that fire. Eight states and Washington, D.C. have legalized marijuana entirely, and 28 have medical marijuana policies. Arizona, Michigan, Vermont and Rhode Island are most likely to legalize marijuana in 2018, with Idaho, Wyoming, Missouri, Oklahoma and Texas considering medical marijuana policies.
More Americans will emigrate to Canada
Canada is already a favorite settling spot for Americans emigrating due to the 2016 Presidential election. In fact, Canada hasn’t seen an influx of "talent" like this since 1989, according to the Seattle Times. Legal cannabis will draw even more Americans north of the border, most of whom will be leaving American jobs they do well, further weakening American businesses and the U.S. economy. Unemployment rates will decline, though, as new workers move into the private and public sectors.
Canadian hemp will kill the American cotton market
Perhaps the biggest impact of Canada’s marijuana legalization will be on the American cotton market. The U.S. is the number one exporter of cotton in the world, but hemp can be used in lieu of cotton in clothing and a whole lot of other items. Hemp makes for stronger rope, longer lasting textiles and clothing, and you can even build a house out of hempcrete. With America clinging to marijuana’s Schedule I status, it limits where hemp can be grown and makes exporting the product impossible, despite hemp not having the psychoactive effects of marijuana.
If you’ve noticed, Canada’s legalization of marijuana won’t have a positive impact on America. All Americans can hope for is that Congress legalizes marijuana before Canada does, or America will suffer these consequences.
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