Decriminalization of Marijuana Use, with Supply Remaining Illegal
Full Legalization of Marijuana Production, Sale and Use, with State Control
Legalization of Marijuana Production Sale and Use within a Competitive Market System
Excise revenues on marijuana sales Cost averted from marijuana -related arrests (BDS$) Cost averted for marijuanarelated incarcerations
2019
2020
2019 746,141
2020 831,228
2019 730,762
2020 802,655
557,198
171,673
835,796
572,242
1,114,395
286,121
191,786
78,555
1,503,601
18,194
815,048
36,274
Total Benefit
748,984
250,228
3,085,539
1,421,663
2,660,205
1,125,050
Costs Total marijuana related 18,344 598 26,488 1,238 21,809 842 External costs Additional costs from 531963 17338 768,162 35,909 632,462 24,424 Marijuana related accidents Total Costs 550,306 17,936 794,650 37,148 654,271 25,266 Net Benefit 198,677 232,292 2,290,889 1,384,515 2,005,934 1,099,783 The estimated savings from marijuana-related arrests, ranged between BBD$ 171,673 for model 1, year 2 and BBD$1,114,395 for model 3, year 1. Savings from averted marijuana-related incarcerations were also significant and were estimated to be between BBD$36,274 for model 3, in year 2 and BBD$1,503,601 in model 2, year 1. Marijuana-related excise revenues estimates (BBD$831,228 ) were highest in model 1, year two and least (BBD$ 730,762 ) in model 3 year 1. See Table 5 for more details. Furthermore, as demonstrated by Figure 11, total benefits were most significant under the assumptions of model 2 (BBD$4.51 million) and least notable when the assumptions of model 1( BBD$ 0.999 million) were applied. The available data produced estimated costs that varied between BBS$0.57 million and BBD$0.83 million.
Figure 11: Total Estimated Costs and Benefits, Barbados
104