The Legalization Of The Marijuana Industry - 2004 Words

Introduction As the world is changing so rapidly, so do the industries towards which entrepreneurs are attracted to. Few new and old businesses nowadays seem to be becoming emerging industries or sectors that entrepreneurs, investors as well as businessman look to make timely investments in with the reward of high returns on the investments. Even though technology is one of the most dynamic and possibly most lucrative emerging industries, there are quite a few other interesting emerging industries that appear to have high-return potential. With that being said we take a look at a rather extraordinary emerging industry, the Marijuana Industry, as well as the different strategies that have been used in different countries to actually†¦show more content†¦As seen in table 1 under appendixes, each state and the District of Columbia liberalized Marijuana laws through decriminalization and legalization of recreational Marijuana as well as medical Marijuana in different years. In the following discussion the history of Marijuana legalization, the reasons for Marijuana legalization as well as the strategies that have contributed to the legalization of Marijuana, whether it’s for recreational purposes or medical reasons will be discussed further. History of Marijuana Legalization and Reasons Why It Was Legalized Marijuana became included in the scope of international drug control as early as 1925, and total criminal prohibition (even for non-scientific or medical use) as dictated by the treaties since the 1961 convention has been the control framework of choice in most industrialized countries. (European Monitoring Centre for Drugs and Drug Addiction, 2008; Levine, 2003; Room, Fischer, Hall, Lenton, Reuter, 2010). In 1996 the state of California legalized Marijuana for medical purposes such as pain, nausea or insomnia for cancer patients. Since then more than 16 states and the District of Columbia have passed laws that allow for the use of Marijuana to treat diverse medical conditions, including in these numbers 25 states that have allowed for home cultivation of medical cannabis. Several states