The legalisation and regulation of marijuana next year will not significantly improve the economic growth outlook, although legitimising a previously black market industry will provide a modest one-off boost to the level of GDP. While it will likely result in lower marijuana prices and generate additional tax revenues, legalisation will obviously disrupt the large underground marijuana industry. Accordingly, there could be negative unintended consequences for the economy, not to mention the potential health concerns of the relatively young weed-smoking population.
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