Simply said, banning cannabis put the entire industry in the hands of the "bad guys."
Thankfully, the world is changing. This week Canada voted for a Liberal government that intends to legalize cannabis. Of course, let's not get carried away. Justin Trudeau intends to tax cannabis and thus pay for his activist social agenda with the proceeds.
Having said that, ending cannabis prohibition is an admirable undertaking, and it puts Canada in good company. A great many countries are discussing ending various forms of cannabis prohibition. This week we also saw Mexico making more noise on the legalization front, Croatia legalized medical marijuana, Australia continues to actively discuss legalization, MPs are debating legalization in the UK ...
The bottom line is this: Cannabis is going to be heavily regulated, standardized and taxed – just like alcohol, only perhaps even more so. However, the industry is going to take time to develop and it will be an international marketplace – meaning, like alcohol, cannabis will be subject to international competition and this is essential if governments want to truly stamp out the black market. -
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