General Discussion
In reply to the discussion: If marijuana becomes legal across the nation, does that have the potential [View all]Xithras
(16,191 posts)When Prop 19 was on the ballot here in California a few years ago, a couple of economists took a realistic look at legalizations impact on the price of cannibis. They determined that most of the current valuation is driven by scarcity owing almost completely to its prohibited status. If it were legalized, we would see industrial scale production ramp up, which would bring the prices of average quality pot down by a minimum of 75%, and up to 90%. Boutique strains would always remain more expensive, but they would see a crash as well because the price difference between the varieties would be unsustainable.
This is largely why Prop 19 was heavily opposed by growers in the Emerald Triangle, where the bulk of California's pot crop is grown today. Those growers realized that legalization meant one thing for them....unsustainable competition from thousand acre cannibis farms in the Central Valley. To the grower, it would have been about as profitable as corn.