It Sure Looks like Marijuana Legalization Will Make Your Weed a Lot Cheaper
One of the biggest questions surrounding marijuana legalization is whether it will make the drug much more affordable and accessible — and therefore increase use.
Well, some early data is coming out of Washington state, which legalized marijuana in 2012 and began sales in 2014. And it looks like, as drug policy experts long suggested, marijuana's price drops after legalization. Keith Humphreys of Stanford University explained in the Washington Post:
Marijuana price data from Washington's Liquor and Cannabis Board was aggregated by Steve Davenport of the Pardee RAND Graduate School and Jonathan Caulkins, a professor at Carnegie Mellon University. After a transitory rise in the first few months, which Davenport attributes to supply shortages as the system came on line, both retail prices and wholesale prices have plummeted. Davenport said that prices "are now steadily falling at about 2 percent per month. If that trend holds, prices may fall 25 percent
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