Sunday, October 28, 2018

My preferred cannabis market is a free market

In Australia, the government is shaping to divide the cannabis market into: 

(1) Medicinal cannabis (LEGAL): controlled by governments and the medical establishment, and available to a very small number of sick patients, and,

(2) Recreational cannabis (ILLEGAL): left to the "black market" to produce and sell, free of government regulation, and available to the general public without the need for a doctor's prescription.

My preferred market for both recreational and medicinal cannabis is a fully free market, with private growers, branding of products, and independent testing agencies that provide independent product advice, all privately funded and owned.

None of these things require government involvement, and because cannabis is a very low-risk product, government regulation of the market is not needed, except perhaps to require shops to sell the product to adult customers, only.

The advantages of the free market approach are many:

(1) Lower prices for consumers, due to enhanced competition and a lack of red tape.

(2) Encouraging greater product innovation, leading to safer and more effective products.

(3) Branding is encouraged, leading to greater market trust and higher quality products.

(4) Greater choice of products available.

(5) No cost to the taxpayer to subsidize inefficient, over-bureaucratised government production and distribution services,

(6) Keeping the industry in the hands of the people, not big business or the government.