The Wall Street Journal reports that Scott’s Miracle-Gro is targeting the cannabis-growing market. Surely, the next step must be certified organic 420.
A reporter for Marketplace called this morning to ask what it all meant; the resulting interview should air this afternoon.
Soundbite version of my answer: Search me, boss.
I don’t see much evidence of increased consumption; there might be increased production if dometic pot is replacing Mexican, but I don’t see much evidence of that, either. Most likely the emergence of the quasi-medical market in California has simply encouraged the existing growing industry to stick its collective head above ground, so we suddenly have cannabis expos and what-not.
Of course, the more open the industry, the more openly it can lobby. Some of the people getting rich from the current halfway-legal business in California opposed Proposition 19, which would have legalized it all the way at the state level, because they feared the resulting competition.
Anyone trying to design a legal regime for cannabis had better reckon on the political economy. Assuming your pet scheme were adopted, would it be robust to the efforts of the resulting legal industry to beat down whatever tax and regulatory barriers you had erected to prevent an upsurge of cannabis abuse?