[lbo-talk] Marijuana becomes top cash crop in US

Sandy Harris sandyinchina at gmail.com
Wed Dec 20 17:13:52 PST 2006


Ira Glazer <ira at yanua.com> wrote:

http://www.guardian.co.uk/print/0,,329666124-103681,00.html
>
> ['The study shows that 10,000 tonnes of marijuana worth $35.8bn
> (£18.4bn) is grown each year; the street value would be even higher'.
> Since marijuana is almost completely illegal (except in very limited
> circumstances), what other (monetary) value is there, apart from the
> 'street value'.]
>

Official estimates of drug value are often ridiculously high. Perhaps it sells more papers, helps justify the expense of the War or Drugs, or the long sentences sometimes handed out.

10,000 tonnes for $35.8 billion? $3.58 million a tonne? Roughly $3.58 thousand a kilo? $3.58 a gram, roughly $100 an ounce. Sounds to me like they are already using a retail price here. I wonder if they are doing that for crops they compare to.

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