Sample questions for Econ 3308-W 2020 16. In your opinion, what are the effects of legalizing...

Sample questions for Econ 3308-W 2020

16. In your opinion, what are the effects of legalizing marijuana in Canada, on the Canadian economy and our healthcare system?

Expert Solution

Effects of legalizing Marijuana in Canada on the Canadian economy and our health care system

The movement to ensure the legalization of cannabis has been going on in many parts of the globe. Even in the United States, many states have legalized cannabis. This means that it is legal to possess cannabis for the purpose of sale in these states.

There are only two countries in the world where cannabis or marijuana is completely legal now. These countries are Uruguay and Canada. This makes Canada the only country in the developed world to have legalized the recreational consumption and sale of marijuana.

Many experts believe that the real reason why the Canadian government has legalized marijuana is economic.

Taxes

The Canadian marijuana market is expected to be in the range of $5 billion to $8 billion per annum. Critics of this policy argue that there is no new addition to the economy. This annual figure of $5 billion to $8 billion was already a part of the Canadian economy. Since it was illegal, it was not being accounted. However, now since it is legal, it will be accounted for.

Impact on Economy

Impact on Tourism

The United States government is continuing its war on drugs in many northern states. Also, there are many other countries where consuming cannabis is illegal. Canada is likely to appeal to these people as a tourist destination. The government of Canada is very optimistic about the fact that people from across the world will visit Canada and that cannabis tourism will also lead to a significant increase in both private as well as the government revenue.

Impact on Real Estate

The real estate industry in Canada is expecting a positive impact from cannabis legalization. This is because new demand has been created for warehouses and stores that will help the real estate industry as more commercial and industrial units will be sold out or leased. The demand for rental housing is also likely to go up. This is because states and countries where cannabis is legal to attract a lot more tourists.

Impact on Health Care System

Many people are able to consume cannabis safely, but some individuals do experience health effects, and doctors say it's impossible to predict how any one individual will react to the drug.

Marijuana affects brains frontal cortex which affects judgement and decision making
It can affect brains endocannabinoid system - which fine tunes communication between neurons - so it doesn't work or work effectively

Rahul Sunny answered 8 months ago

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