Apart from this, legalization would provide opportunities for persons engaged in the marijuana business to enter into lawful employment and entrepreneurship as well as create prospects for additional jobs in the area of marijuana commerce.204. 10.2. The economic dimensions of any change to the current prohibitionist approach to marijuana is a complex one. Regulatory economic policy will require a multi-faceted, all embracing approach. The question of economic benefit must also take into account the current negative economic costs resulting from prohibition. These include the high enforcement costs, depleting resources necessary for more serious crime and the lack of income or revenue for Member States and citizens within an illicit market.
Results of Economics Study- State Control Most Beneficial
10.3. The Economics Study commissioned for this Report illustrates that considerable economic benefits may be gained from a more liberalised regime. It presents three possible models of liberalised law reform: 1. Decriminalization of marijuana use only: In this model, the use/possession of large amounts, production, and sale of marijuana remain illegal. Possession of small amounts will no longer be considered a criminal offence and offenders will be fined, rather than face arrest/possible incarceration. 2. Full legalization of marijuana production, sale and use, with state control: Here, the government controls the marijuana industry i.e. cultivation, processing, and sale of marijuana. The retail price of marijuana is set by the state, which has strict control of all levels of the supply chain. 3. Full legalization of marijuana production, sale, and use within a competitive market framework: Under this model, the price and quantity are determined by the forces of demand and supply, under the free market system, with some regulations. 10.4. Data was examined to estimate seven (7) potential benefits, including: averted cost of lost wages from marijuana possession arrests, cost averted by the police from marijuana possession arrests, costs averted by the prison from marijuana -related incarcerations, and additional revenues from marijuana related license fees, among others. Data availability allowed for only two (2) costs impacts to be examined: Additional cost of marijuana abuse treatment requests and estimates of the additional costs from marijuana -related accidents. The study concluded that: “Savings and additional revenues may be significant, depending on the model of liberalization used, costs will also vary by the country and model. In the case of model 1 additional costs tend to be the lowest and so are the benefits in terms of savings and additional revenues. Models 2 and 3 have been shown to result in the highest benefits alongside the highest costs.”
Considerable economic benefits may be gained from a more liberalised regime.
10.5. Significantly, of the three models, the economic analysis suggests that the greatest economic benefit will be gained to Member States from Model 2, even as it posits higher costs for efficient public health and educational programs to support such a regime. 10.6. Model 1, decriminalisation only, is shown to have little or no impact on the economy, since it has very little positive impact on the black market or illicit economy, or the negative costs of enforcement associated with an enduring prohibitive system, albeit somewhat relaxed. More importantly, decriminalisation presents little opportunity for states to accumulate revenue from cannabis/ marijuana
Jamaica’s first medical cannabis biotechnology company, Medicanja Limited, launched its first six cannabis -based products for the treatment of pains, swellings and strains. The products were initially available in November in Jamaican pharmacies and the company is also seeking international markets. https://www.caribbeanintelligence.com/content/ci-shorts-slow-growth-legalised-ganga ‘Ci Shorts: The Slow Growth of Legalised Ganga’ (2018), Update – Report, Caribbean Intelligence. Accessed May 30, 2018. 204 Ogrodnik et al (2015) 203
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