Possible cannabis legalization or decriminalization and its economic benefits in Latvia

Abstract

The current research paper explores the possibilities of legalizing or decriminalizing cannabis in Latvia and concludes that decriminalization is in fact possible and beneficial. The state should use a systematic approach to legalize cannabis by slowly liberalizing legislation, for example, by starting with the legalization of medical cannabis before decriminalizing the recreational use of it. However, this paper concludes that the legalization of cannabis, while beneficial for Latvia, will likely not occur in the near future. As this paper argues, the change will not occur soon due to the specifications within state legislation and the lack of political will among government officials and politicians. To provide a comparative analysis, this paper explores the jurisdictions of the Netherlands and the state of Colorado in the United States. Hence, the paper provides a comparison and interesting overview of possible benefits, as well as potential challenges for the legalization of cannabis