Legalized marijuana is going the way of all agricultural commodities in the United States, and that shouldn't be a surprise. A really interesting analysis by 538 reveals that the price of pot has dropped for grower and dope fiend alike, and with big money at stake -- $6.7 billion this past year and $20 billion the dream for 2021 -- big money is very interested.
Jeremy has some great insight in looking at marijuana as a simple staple crop. It would be interesting to view this as a simple agriculture problem and compare the economics of it for the first several years to other crops like soybean and sorghum. I’m relatively sure of where things will end up, I’m just curious how they differ until things reach scale. This is a particularly interesting economics problem because it provides an experiment that isn’t an easy one to recreate at these scales for how often does a mass consumable crop get discovered?