How marijuana keeps on growing

‘Marijuana is stealthily being redefined as a consumer business — one that could be worth $25bn, if you believe the estimates’

Last week, as the glorious autumn foliage blazed out across America’s Midwest, I travelled to Kansas City for an economics seminar. I found a place throbbing with joy: the Kansas City Royals, the local baseball team, had just won the World Series, against steep odds. It was also a city full of political debate, largely about Donald Trump and the other Republican candidates.

But there was another, more unexpected topic of conversation: marijuana. A campaign has recently been launched in Missouri to legalise the drug for medical purposes; indeed, some lobbyists are pushing to introduce bills next year to permit recreational use as well. There is no guarantee these endeavours will pass; a similar campaign was recently quashed in Ohio. But two dozen states in the US have...

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