This argument and the facts we're all laying out are actually outdated (on both sides of the argument).
California, Canada, and parts of Europe have great economies as a result of the hemp industry, and the marijuana industry.
The magnitude of marijuana use is so more wide spread that there is no possible way to regulate the international cannabis culture.
Truth is, Marijuana is America's #1 cash crop -- and it's about time to utilize it (especially in times of economic crisis)
A 2005 analysis by Harvard visiting professor Jeffrey Miron estimates that if the United States legalized marijuana, the country would save $7.7 billion in law enforcement costs and could generated as much as $6.2 billion annually if marijuana were taxed like alcohol or tobacco.
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Marijuana Called Top U.S. Cash Crop - ABC News
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Marijuana Production: Comparison with other Cash Crops
1938 Popular Mechanics article
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Growing your own is legal to a certain degree here if you have a medical card.
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It's the same in Alaska, but the medical card is not required.