The largest demographic of cannabis opponents belong to the far right, who are known conservative capitalists. For many years, it has been assumed that cannabis and capitalism could not work together in harmony, but the fact of the matter is, cannabis and capitalism go together just like peanut butter and jelly.
There are dozens of reasons that capitalists should reconsider their opposition to the plant, but the biggest reason is: cannabis is opportunity.
It's a Renewable Resource
Marijuana is easy to grow, multi-purposeful, and quick to replenish. While many capitalists are involved in non-renewable resources such as oil and precious metals, they are well aware that those resources are disappearing rather quickly.
In fact, it is estimated that we could run out of oil as early as within the next fifty to one hundred years.
As our resourced dry up, capitalists should be searching for new sources of income. Not only can marijuana be utilized to harvest for recreational and medicinal use, but we can also use forms of hemp without THC in thousands of different products, including health and beauty products. While it is legal to market some hemp products, the market would expand, dramatically, if production of hemp was legalized.
Sadly, The Marijuana Tax Act and The Controlled Substances Act of 1970 are two forms of legislation that have barred the production of all hemp, including the kind that does not even have intoxicating effects. However, with the support of the far right, such acts could likely be overturned in a court of law.
It's Already Making Money
The cannabis industry is currently booming in the states that have made it recreationally legal: Colorado, Washington, Alaska, and Oregon. Between 2013 and 2014, the market grew by 74%, from $1.5 billion to $2.7 billion. If the industry was able to expand to a larger market, meaning more states, or even the entire country, those numbers would only grow. In fact, it is one of the fastest growing industries in the United States today.
Since the market has already been tested in states that have legalized cannabis, there is no concern that the Green Rush will be ending any time soon. Demand is only increasing and will continue to increase as information about the plant continues to become more easily accessible.
When prohibition ends, the prohibited substance creates a massive industry. The alcohol industry is a prime example. When prohibition ended, not only did it disable the black market, but it also opened doors of opportunity for legitimate sales. Marijuana is no different. As we slowly make the necessary changes to end prohibition, the legitimate market is generating much larger numbers in sales. This has also cut off the cartels and put the money in the hands of hardworking, American business-people.
Risk and Reward
The good news for capitalists is that there is less risk of someone dying of a cannabis product than there is risk that somebody would die of alcohol or pharmaceuticals. As a matter of fact, there has never been a recorded death caused by marijuana.
Since both the alcohol and pharmaceutical industries generate a lot of income, but can come with a myriad of health liabilities, they actually are higher risk than cannabis is, in some ways. With cannabis, the liabilities are rather low when it comes to concern of public health. That being said, the cannabis industry is not risk-free, at least not legally.
The legal loopholes are the most challenging part of the cannabis industry. To be involved in the industry, you have to be willing to go through a number of licensing fees and stipulations, one of the most serious being banks’ disinterest in working with you. Since marijuana is still illegal on the federal level, many banks do not want to put themselves through the legal hassles of working with money generated from the marijuana industry.
Will Cannabis and Capitalism Ever Be Able to Work Together?
Cannabis and capitalism can most certainly work together, and recreational states have proven it. The most serious obstacles are legal obstacles, most of which are supported by members of both parties. Nevertheless, if there is anything that capitalists love, it’s seeing green.
If capitalists and representatives are willing to embrace the economic possibilities that the cannabis industry has to offer, we can fully enter the glory of the Green Rush, and that is an economic opportunity everyone can embrace.