Sunday, February 17, 2013

Mainstreaming Marijuana

Tim Sprinkle of Yahoo Finance has an article about a marijuana industry investment fund in Colorado. The content of the article is interesting in various respects, but what I like is just the fact that this sort of thing is being discussed on mainstream financial news sites, and not in a jokey way.

My impression is that opposition to marijuana legalization in Congress is broad but shallow. If it's clear that elite opinion has moved in such a way that supporting legalization is considered a respectable opinion, people will be happy enough to change their views. (There's also a drug law enforcement bureaucracy that really has deep opposition to legalizing marijuana, but my conjecture is about elected officials.) Discussion of marijuana investment opportunities is the sort of thing that promotes the respectability of supporting legalization.
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