Geoff Simmons legalising cannabis in New Zealand

Geoffonomics: The economics of legalising cannabis in New Zealand

Gareth MorganEconomics7 Comments

Every fortnight Geoff Simmons talks with Jesse Mulligan on RNZ’s Afternoons programme about a variety of economic issues. This week they cover the economics of legalising cannabis in New Zealand.

Which would be higher; the costs or the benefits? Would society as we know it go to pot?

Jesse and Geoff weed out the myths. #geoffonomics

Geoffonomics: The economics of legalising cannabis in New Zealand was last modified: August 15th, 2016 by Gareth Morgan
About the Author

Gareth Morgan

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Gareth Morgan is a New Zealand economist and commentator on public policy who in previous lives has been in business as an economic consultant, funds manager, and professional company director. He is also a motorcycle adventurer and philanthropist. Gareth and his wife Joanne have a charitable foundation, the Morgan Foundation, which has three main stands of philanthropic endeavour – public interest research, conservation and social investment.

7 Comments on “Geoffonomics: The economics of legalising cannabis in New Zealand”

  1. A photo that I recently took of a street sign in Amsterdam – it would seem that stoners are welcome and drunks not.

  2. It’s be coming clear that legalization of Cannabis is the only way forward, not only due only to the economic benefits but to protect society as well.
    There has been for too long a lack of recognition for not only the large demographic that use it for what ever reason, but a total lack of acknowledgement of the huge existing underground marketplace for this product.

    When we hear that there’s increased adult use in places like Colorado, people are quick to blame that on increased availability due to law changes. However what if the the reason is not due to new users, but was due to the fact these law changes have let many come out of the closet so to speak.

    A similar shift in thinking was demonstrated when laws upholding Gay rights were introduced. The fact we now have many openly Gay people working in high profile jobs is a testament to this. While to be open about Cannabis use or to even try to acknowledge or explore change, brings a very different judgemental agenda to the table and you only have to look at the political career of Don Brash to have seen this in action.

    There should be the the right a forwarded to Cannabis users to grow a few plants for their own needs and all being equal, the same result as home Tomato growers or that of the home brewer will prevail, as not everyone will partake in the total production of their own, year round supply. The strength of the Alcohol and Tomato industries are a testament to this fact.

    I strongly believe that while the economic arguments are sound, especially around the allocation of Police funds, lets not look only at what money can be made as our primary reason for change, but lets give so many otherwise good law abiding citizens a chance to come out of the shadows.

  3. Simple answer is that banning things is a total failure throughout history. Why not legalise, control, tax etc like we do with other things. Much of the problems around drugs arise as much from their illegality as they do from the drugs themselves. Costs to the justice system, negligible quality control, organised crime, no ability to tax so no money coming in to pay for the costs, treating a health problem as judicial one…

  4. Economically it sounds like a no-brainer to me. The only thing holding it back would be that the pharmalogical industries would object. Maybe that’s why cannabis use is currently illegal.

  5. Compare it with the damage caused by alcohol and tobacco, it’s a real no-brainer to make something which is essentially harmless, legal . In one simple stroke this would dis-empower the black economy, free the police from useless and expensive attempts to .’control’ it, and free all those who currently use it from being ‘lawbreakers’..

  6. Anybody who studies a little bit of the history of weed realizes that the ONLY reason that it was ever banned was massive racism in the USA.

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