Weed Economics 101

Motley Fool Money

The Motley Fool

Business, Investing

4.4 • 3K Ratings

🗓️ 4 June 2022

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

Price elasticity, supply & demand curves....what better way to learn about economic fundamentals than through weed? (C'mon, isn't it more interesting when there’s an illegal market involved?)

Robin Goldstein and Daniel Sumner are economists at UC Davis and co-authors of “Can Legal Weed Win?”, a book about how the economics of legal, and illegal weed intersect. Ricky Mulvey talks with them about:
- How federal legalization could help or hurt weed investors
- Economic lessons from pot laws in Oklahoma and California
- One surprising way that weed is like bacon

Additional resource: https://www.fool.com/investing/stock-market/market-sectors/healthcare/marijuana-stocks/

Host: Ricky Mulvey
Guests: Robin Goldstein, Daniel Sumner
Engineer: Dan Boyd

Transcript

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0:00.0	But what's highly elastic is the substitution between legal and illegal.
0:05.7	And that's a big theme in our book.
0:08.8	People don't have a lot of compelling reasons in many cases to buy the illegal stuff when
0:13.8	the illegal stuff is available at half the price.
0:19.3	I'm Chris Hill and that was Robin Goldstein, an economist at the University of California
0:24.4	Davis and co-author of the upcoming book entitled, Can Legal Weed Win?
0:30.6	Today we're going to talk about some basic economic concepts through the lens of weed.
0:35.3	It's been said that pot makes movies and food more interesting so you know, why not
0:40.1	demand curves?
0:41.1	Come on, if you've been listening to this show for a while, you already know.
0:45.3	This is not your grandpa's financial show.
0:47.9	Ricky Mulvey talked with Goldstein and his co-author Daniel Sumner about their new book
0:53.1	and why it's been so difficult for investors to find opportunities in this emerging space.
1:03.0	Hello fools.
1:04.0	We're using weed as a gateway drug to get you hooked on economics today.
1:08.0	Joining me now are Robin Goldstein and Daniel Sumner, their co-authors of the book, Can
1:12.2	Legal Weed Win and Economists at the University of California Davis.
1:16.7	Welcome Robin and Daniel.
1:18.1	Thanks Ricky.
1:19.1	Morning.
1:20.1	Why are the economics of weed interesting to you Daniel?
1:23.0	I know you've particularly had an interest in this for four decades trying to survey
	...

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