Prohibition, great depression, recession, economy, legalization of marijuana, economic stability, USA
Our country has the keen ability to solve issues in an unbiased fashion. The skill to overcome obstacles through democracy has allowed our nation to thrive. Over the past century we have found solutions to two problems that seem to be a recurring issue. Our nation's economy has suffered once during the Great Depression of 1929 and the events that served as a precursor to the Great Depression. Additionally, our economy has suffered with finding a solution to prohibition. Each issue has seemed to resurface within the last 20 years. Our economy has suffered through the 2009 recession. Meanwhile states have relied on legalizing marijuana as a partial solution to economic issues. Research allows us to realize the effects prohibition had on the economy and how it is similar to our current struggle with economic stability and the legalization of marijuana.
[...] Our country is still feeling the effects of the recession. The current unemployment rate is 6.3 percent. Despite the steady decrease in the unemployment rate, it is still higher than the years prior to the recession. Some states even experience unemployment rates as high as 7 percent. (Greenstone and Looney) Detroit, Michigan has filed for Chapter 9 bankruptcy as a result of the fallout of the automotive industry. The city has reported up to 20 billion dollars of debt. (Greenston and Looney) Additionally, the United States has accrued 17 trillion in debt as of October 2013. [...]
[...] Our nation's economy has suffered once during the Great Depression of 1929 and the events that served as a precursor to the Great Depression. Additionally, our economy has suffered with finding a solution to prohibition. Each issue has seemed to resurface within the last 20 years. Our economy has suffered through the 2009 recession. Meanwhile states have relied on legalizing marijuana as a partial solution to economic issues. Research allows us to realize the effects prohibition had on the economy and how it is similar to our current struggle with economic stability and the legalization of marijuana. [...]
[...] Within the first month of the Colorado law going into effect over 14 million dollars was raised. From January 1st to April 30th of 2014 recreational and medical marijuana sales reached over 200 million dollars. (Johnson) As a result of the combined sales, fees, and licensing, Colorado has raised over 10 million dollars. This could be repeated for each state if marijuana was legalized nationally. In summary, ending prohibition lead our nation out of the Great Depression. We can prevent the most recent recession from turning into another Great Depression by passing the necessary laws now. [...]
[...] Works Cited Greenstone, Michael, and Adam Looney. "The Lasting Effects of the Great Recession: Six Million Missing Workers and A New Economic Normal."Washington: The Hamilton Project (2013). Gregg, Paul, and Jonathan Wadsworth. "Unemployment and inactivity in the 2008-2009 recession." Economic and Labour Market Review 4.8 (2010): 44-50. Johnson, G. "Recreational marijuana bars test limits of legal weed laws in Washington, Colorado. Huffington Post. Retrieved September 24, 2013." (2013). Thornton, Mark. The economics of prohibition. Salt Lake City: University of Utah Press, 1991. [...]
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