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(Source GRITtv) An initiative in California for marijuana legalization is slowly moving toward an appearance on the November ballot, and several other states have taken steps to legalize the drug for medical purposes, or to decriminalize possession, reducing it to a misdemeanor charge. Since the start of the economic crisis, many–including the venerable Economist magazine–have called for legalization and taxing in order to boost revenues.
Could marijuana save the economy? Would the benefits–both for government money and for those who use the drug for medical purposes–outweigh the negatives? We ask Ryan Grim, correspondent for the Huffington Post and author of This Is Your Country on Drugs: The Secret History of Getting High in America, Brendan O’Flaherty, professor of economics at Columbia University and author of City Economics, and Terrence Farley, former prosecutor for Ocean County, NJ and former Director of the New Jersey Division of Criminal Justice.