There’s So Much Legal Weed That It Might Now Be Too Cheap

If there's one thing to take away from Economics 101, it's the fundamental rules of supply and demand. When the supply exceeds the demand, prices tumble, which is exactly what's happening right now in the legal weed market. 

According to Forbes, the prices for marijuana in the states where it's legal have fallen precipitously. In 2015, wholesale pot plummeted from $2,500 a pound to only $1,000 in 2016. In Colorado, prices went from $8 a gram for marijuana flower (what the rest of us call "bud") in mid 2016 to a current price of $6. The drop was more dramatic in Washington, where prices decreased from $25 a gram to just $6.

Experts believe this is a result of heavy investment in the marijuana business, which is causing pot production to exceed demand as big-money speculators try to cash in on the emerging market. In the short-term, this market saturation means that prices at the dispensary will be down. But as it becomes more difficult for small growers to turn a profit, they may go out of business, possibly leaving kush fiends with fewer options.

A crowded market might not be the worst thing for consumers, though. When there is a lot of product vying for tokers' attentions, brands are forced to differentiate and go beyond coming up with cute strain names like "Steve McGarrett's Hair" or "God's Vagina 2.0." Some strains will likely rely on celebrity endorsements, like Willie Nelson's Willie's Reserve or Snoop Dogg's Leafs by Snoop. Others will go the Whole Foods route, making organic and pesticide-free bud available at a premium. Some may just try to make their pot stronger.

Still, there are parts of the marijuana market that are holding steady, particularly edibles, concentrated oils, and concentrates made for vapes. There's also the high-end weed market with its $200 blunts that shows no sign of slowing down.

Of course, this is only a concern to those in the eight states where recreational marijuana is currently legal. While the legal weed market is worth about $6.9 billion a year, 87 percent of all marijuana purchases are still made on the black market, which is estimated to be worth, annually, about $46 billion. Some might argue that we're currently living in the Golden Age of Illegal Weed, where dealers are still seeing large profit margins.

Keeping Doctors Trapped in the US Is Bad for Everyone

Heval Mohamed Kelli came to the United States two weeks after 9/11. He, along with his parents and brother, had been living in Germany for six years after fleeing Syria in 1996, where his father had been jailed for months on end. The family settled in the suburbs of Atlanta; Kelli, who was 17 at the time, supported his family by washing dishes. He dreamed of going to college but knew that his options were limited.

Then he got a scholarship to a prestigious private high school, and a mentor to motivate him. Today, Kelli is a cardiologist at Emory University. He spends his free time volunteering in Atlanta—he works at a free clinic; he runs after-school programs for high school students, many of them refugees. He works just a block away from the restaurant where he used to wash dishes.

Kelli would like to devote some of his volunteer efforts abroad. But due to President Trump's "Muslim ban," the recent executive order that prohibits entry to the US from seven majority-Muslim nations, leaving the country now feels too risky, even though he became an American citizen in 2006.

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