In 1990, sixteen-percent of Americans supported the legalization of marijuana, the lowest percentage in our nation's history (Rivas). Despite its early ignorance, the majority of the United States has been in support of legalization since 2014 (Rivas). Whether used medically or recreationally, the drug is widely used within our society despite remaining illegal in the majority of the states. With marijuana being almost as popular as alcohol, people begin to wonder how long it will be before the country decides to open the doors to recreational use nation-wide. The initial opposition of legalization has been based on medical concerns surrounding the drug, specifically those that are result of consumption via smoking. An article from MedlinePlus explains this worry further, stating: "Marijuana can cause problems with memory, learning, and behavior. Smoking it can cause some of the same coughing and breathing problems as smoking cigarettes" ("Marijuana"). With this potential for detrimental health impacts, the idea of legalizing marijuana for recreational use is alarming to some. However, a survey regarding patients prescribed to medical marijuana contradicts its negative connotation. In California alone, 92 percent of patients who used the drug believed the drug was helpful and relieved them of their symptoms (Rivas). Because the benefits of marijuana are viewed highly by so many people, the argument of legalization is not longer health-related. 

People have started to realize the economic potential marijuana has in the market. According to an Associated Press-CNBC poll, about a third of those who polled think the economy would improve if marijuana was legalized (Risling). Economically, the cost to produce marijuana is significantly less expensive than the price it is sold for on the streets (Moffatt). Specifically, the average cost to produce 0.5 grams of marijuana is $1.70, while the price of the same amount sold on the streets is on average $8.60 (Moffatt).  Considering that the economy is not currently in its greatest state, a move like this could offer a path towards recovery. A potential obstacle regarding legal distribution is maintaining the likely increased demand for the drug. If legalized, there would be no legal risk of buying or selling the drug, which might cause those who avoided the drug out of legal caution to join the population of consumers. Supplying mass amounts of marijuana for the nation would require an increase in either imports from foreign countries, or an increase of plantations within the U.S. With the resources and relations America already has, as well as its mass amount of available farmland in areas such as the Midwest, the potential need to increase supply is a situation that could ultimately be supported. 

The controversy surrounding marijuana has progressed beyond a debate of whether legalization would be beneficial or detrimental for society, and has evolved into a more economic debate. There are billions of dollars unclaimed every year the drug remains illegal (Smith). The states are becoming aware of the potential profit, and some who have already legalized the drug have had great success. Colorado earned over $700 million in revenue in 2014, not including retail sales of marijuana related products and tourist spending, and is expected to become a billion-dollar industry this year (Ingraham). The state's success in the marijuana field is credited to it's industrial foundation under Amendment 64. This amendment, legislated in 2012, legalizes, regulates, and taxes the production and distribution of marijuana to medical patients as well as citizens 21 and older (Rivas). The recreational marijuana sales have contributed considerably to Colorado's success, but not all legalized states have experienced the same prosperity. Although California has legalized medical marijuana, the state has yet to legalize recreational use. This is because they have not gained enough support and to get an initiative and construct an effective campaign would cost the state millions of dollars (Romero). Although state regulation has not left the ground, activists are hopeful for a better opportunity at a ballot come the Presidential election this year. After seeing marijuana's success in a retail market like Colorado's, people have grown aware of the fact that it could bring in a great deal of money for their states. The legalization of marijuana and the selling of it in a retail industry approach would prove to be an overall successful act of legislation because of the increased economic benefits it would produce, the increased amount of job availability due to its wide market range, and the resulting decrease in crime and incarceration rate in the United States. 

The legalization of solely medical marijuana use limits the drug's economic potential, and the medical laws that come with medical use are not necessarily helping the patients in the most optimal way. Law states that patients prescribed to marijuana are limited to only one 60-day supply at a time (Thompson). Additionally, growing marijuana can take up to 3 months, limiting patients extremely in regards to the amount they are able to consume (Thompson). This not only affects patients who desire to consume greater quantities of marijuana, but it also prevents certain patients who legitimately need to consume large amounts. In a legal retail market, a person who needs marijuana would not be bound to a certain amount they can possess. Patients who need considerable amounts of marijuana are prime customers for retailers and will provide plenty of sales as well.

Though the pharmaceutical laws surrounding marijuana use may not be most ideal for its consumers, they do provide a safe way to obtain the drug. Many people view pharmacies as the safest option for distributing marijuana because the drug is in the hands of licensed pharmacists that can determine the appropriate use for their patients (Johnsen). Pharmacies also ensure its medical purity, while marijuana sold in the black market via street dealers and manufacturers is susceptible to being tainted and lacking the correct amount since the quality and quantity are not necessarily regulated. Though one could make the argument that distributing marijuana through pharmaceutical companies is the most legitimate way of distribution, it does not necessarily mean that it is the best option.

After reviewing the variety of markets for legal marijuana, retailing marijuana appears to be a far better marketing approach compared to limiting distribution through pharmacies alone. Providing marijuana through pharmaceutical companies suggests a smaller, more exclusive market. Specifically, a pharmaceutical approach would only target medical users and neglect recreational users. However, if marijuana were retailed, the market would be much more widespread and encompassing, not only servicing one specific target market, but many. 

To ensure their success, it is essential that retailers understand all of their potential markets. A Harvard marketing professor in a Forbes article discusses the potential markets for legal marijuana when he states, "You really have four markets, medicinal, individual grower, recreational, and the illegal market" (Blanding). Understanding these varying markets and the motives behind each aids retailers in developing and utilizing numerous marketing strategies to best meet those markets' needs. Whether it's a recreationally-based retailer in New York, or an individual grower in Wisconsin, the opportunities are available in the marijuana industry if it takes a retail approach.

There are too many economical benefits legalizing marijuana provides to be ignored. A major benefit of legalization would be the elimination of prohibition enforcement. According to 300 economists in an article from the Huffington Post, the U.S. could save up to almost $14 billion a year by freeing states from the costs to prohibit marijuana (Berman). Mass amounts of profit can be made by selling the drug in the legal market, but the U.S. is saving billions of dollars solely by making the drug legal. Another estimate explains that with the combination of the cost to produce and market marijuana with the amount of consumers, the country could save 45 to 100 billion dollars a year by legalizing marijuana (Berman). Legalizing cannabis would not single-handedly save our nation's economy, but it would certainly send it in the right direction.

With promised increase in demand with increasing consumers, there is a need for more work within the industry to accommodate the increased market range, which would open up more jobs opportunities. In the U.S., legal marijuana was the fastest growing industry in 2014, and there are new jobs in the legal marijuana market that have as much income as fifty to ninety-thousand dollars a year (Eisenberg). A drug that has been putting people behind bars for years is now, in some states, providing a living for people. 

There are several markets and job positions that would open up if marijuana were legalized and subject to retail selling. For example, the farming industry would be enhanced significantly as a result of marijuana legalization. Marijuana, being a crop, requires farming to be cultivated and prepared for distribution. An increase in demand for marijuana that would result from legalization would therefore require an increase in farming and fertilization in order to maintain distribution. Not only would this provide more job opportunities in manual farming labor, but this would also have a chain effect of increasing sales for farming supplies necessary to grow marijuana. A larger demand for supplies gives opportunity for retailers to develop utility products for marijuana in their stores. Additionally, by offering the purchase of marijuana retail stores such as dispensaries or head shops, the government could provide hundreds of jobs for people to keep these stores up and running. One sales coordinator of a head shop states, "Now that (marijuana) is legalized, there's a lot more shops opening, wholesalers, and products out there. I just came back from Denver, and I talked to a lot of the shop owners, and their sales have increased dramatically" (Schroyer). Another job market that opens up with the marijuana industry is the food market, creating edible marijuana goods that might be more appealing to consume as opposed to the method of smoking.

There may be a difference in wages based on job type within the marijuana industry, but the legalization and selling of marijuana would increase the amount of jobs nonetheless. Jobs like bud trimmers make a little over minimum wage, but occupations like gardeners and concentrate makers can have salaries at almost six figures (Eisenberg). Smoke shops generate approximately $10 billion in revenue each year (Schroyer). The demand for new products is only going to increase as more states begin to legalize marijuana. In a society where marijuana is legalized, different attitudes may develop surrounding products, similar to that of society's current attitudes on phone products. Like the developing trend of getting the latest iPhone, active users of marijuana are going to want the new "thing" or product, and if they can afford it, will most likely be willing to pay the cost. Retailers can take advantage of this by setting higher prices. Smoking products can be sold in either marijuana dispensaries or in general head shops. The dispensaries typically have the low-end cheap products, while head shops usually have the more authentic and expensive products (Schroyer).  If retail stores like these grow and become more successful, the businesses may need to expand, resulting again with more job opportunities. All the increased job opportunities mentioned would not be provided by pharmaceutical companies, emphasizing the need for a retail approach in the marijuana industry if legalized. 

Another essential reason why American needs marijuana in the economy is because it would decrease crime rates dramatically. There were over 650,000 arrests for marijuana in 2012, almost 3 times the amount of crimes for other drugs (New York Times). However, following marijuana's partial legislation, extreme forms of violence such as homicide and assault have declined (Ferner). Placing marijuana on the market promotes legal transactions rather than going underground and selling illegally. Drug dealing can lead to acts of violence and crime if the law gets in the way. The most logical solution to avoid such violence and crime is to decriminalize the drug. Not only does legalizing marijuana suggest a safer society, it would save the U.S. billions of dollars that is spent on imprisonment (Papastrat).

The average cost to maintain an inmate in prison for a year is just over $21,000 (Papastrat). With over 750,000 individuals incarcerated in marijuana-related crimes in 2011, a total amounting to almost $16 billion dollars was spent to keep those individuals in jail for just one year (Papastrat). If the drug is decriminalized, mass amounts of money can be saved and be used towards more significant criminal cases. If people are not in prison, they are out in the community and contributing to society as well as the economy. 

An ideal industry for marijuana is one consisting of retailers that understand their financial boundaries, operate in ideal locations, and appeal to its target markets. Determining the right price for its products is essential to a successful business. Although the price of marijuana sold on the street today is much higher than the cost to produce the drug, legalizing it would result in a decline in value. The price of street marijuana is directly impacted by the federal risks drug dealers face when distributing illegally. If the drug were to be legalized across the nation, the exclusivity of the drug would be irrelevant, resulting in a decrease in price. A declination such as this would appeal to the consumer and could potentially increase sales for retailers. However, sales will not matter if the retailers are not based in appropriate locations.

The location of marijuana retailers requires thorough consideration compared to other industries. Although the majority of Americans are in favor of legalization, there are people who continue to view the drug with a negative connotation. If legalized, marijuana retailers could obtain an image similar to a dispensary. This would not be ideal because dispensaries have not been fond of by society in certain states. A recent poll showed that 73% of adults support legalization, but 44% would be concerned to a certain extent if a dispensary opened near their home (Nemeth). Specific to in California, 80 percent of its population supports medical marijuana, yet there are localities within the state that have banned medical marijuana completely because of pressure they were receiving from their residents regarding dispensaries (Nemeth). This is an important issue to attend to because retailers would not want their stores to be located where they are not desired. A negative image received from local residents would be bad for business. If retailers are placed away from suburban areas and towns this could help resolve this issue. Away from the suburbs means away from the families and civilians that do not want them to be near. An ideal location for the retail stores would be father into the cities. This places the dispensaries in a location where there are not as many homes but can be accessed from people in the city as well as the suburban community. Having the right location is vital for marijuana businesses to succeed, and an urban location puts them in the best position to succeed in a legal market.

When determining the right price and location of a business, the customer is the most important aspect that is considered. A retailer can have a solid price range and an ideal location, but if the customer is not satisfied there is no business. The key to keeping a customer satisfied is constantly presenting something new. In a country where innovation is everywhere, people desire the newest things. The ideal industry for this market consists of retailers that are constantly supplying different strains of marijuana and new marijuana-related products such as pipes other smoking devices. If a marijuana retailer provides the same strains and products, customers know what to expect and could desire to try something new and look into other establishments. Constantly interchanging different products and responding to customers' requests leads to a business with consistent sales and revenue. 

It is important to understand that creating an entirely new industry would be far from cheap. Developing retailers across the nation and gathering the necessary supply of marijuana and other products would cost a great deal of money. However, if a large portion of the billions of dollars saved from legalization was spent on the development of this new industry in the upcoming years, the U.S. would make its money back in due time.

The legalization of marijuana would have been a ludicrous thought decades ago. Since then society has altered significantly over the years and people are expanding their perspectives and stances, increasingly supporting the legalization of a marijuana industry. As Colorado and other states lead the nation in this extraordinary and compelling legal shift, multitudes of opinions bombard our public discourse.  Supporters and dissenters alike have much to say about the subject and while every side can make interesting and even, coercive arguments regarding the rights of individuals, personal choice and cultural norms, it is important to look beyond only this aspect of the decision of legalization.  Should legalization become a standard, the morality of it essentially becomes insignificant. We then must look beyond to how this new norm is woven into the workings of our society, our economy, and our country as a whole. The revenue made by the legal states is proof of the drug's economic ability. The marijuana industry is booming in the few states it's legalized, and it will only continue to grow as more states begin to take the same route, as evidenced by increase in economic benefits, its increase in job and market availability, and its decreased crime and incarceration rates. 

