The Union: The Business Behind Getting High - Essay Example

Summary

In the essay “The Union: The Business Behind Getting High” the author discusses the profit incentive in reselling raw gold. One pound of premium marihuana can be purchased for as little as $2000, but it’s worth more than a pound of gold since in the top U.S. retail markets an ounce can be valued…

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The Union: The Business Behind Getting High

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Subject: Business
Type: Essay
Level: High School
Pages: 2 (500 words)
Downloads: 3

Extract of sample "The Union: The Business Behind Getting High"

The WAR on Drugs has only benefited the government, special business interests, and organized crime. In 2005 there were 745,546 arrests for marihuana violations. The DEA agent is one of the main beneficiaries since around 80% of their operating budget is invested in marihuana prohibition enforcement. Without marihuana prohibition, most of the DEA would be without jobs.4) The price elasticity of illegal marihuana is approximately -.4. With the legalization, I would say that the demand curve would look fairly similar if prices stayed about the same because of price regulation.

If prices stay unregulated the market will drive prices down, thus the demand would probably become more elastic over time. The demand curve would eventually become close to perfectly elastic since production costs could drop to a few dollars per ounce. The price elasticity of the graph could become almost perfectly flat or elastic.5) Individuals will lose the right to any federal financial aid for a college education. A criminal record can prohibit them from finding any government or private employment options.

It will cause a stigma of discrimination towards the individual in our society6) If you had 10,000,000 your best legal investment bet according to the documentary is in pharmaceutical companies. Since the patent process protects the companies from competitors for 20 years, they can charge whatever they desire for their products. For 2005 the pharmaceutical industry's revenue increased by 5.4%, with over 251 billion in profit for the same year. 7) I feel that this documentary will open up the eyes and minds of a lot of individuals towards the reality of marihuana prohibition.

I feel like we have been cheated of one of the greatest natural resources available to man, and a great deal of economic and social damage has been caused to mankind because of this irrational prohibition policy. This shows that big business, government, and special interest groups are the real reason why cannabis is illegal.

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