1-Watch the 60 Minutes piece entitled, “Marijuana in California: How Legalization of Weed Has Not Destroyed the Black Market” (Season 52, Episode 44). Then review the Public Choice Theory section (16-4) of Chapter 16. This URL has worked for me (sorry for all of the commercials):https://www.youtube.com/watch?v=rSvXkdoQ4EsLinks to an external site.
https://www.cbsnews.com/news/marijuana-in-california-black-market-weed-buzzkills-for-california-legal-weed-industry-60-minutes-2019-10-27/
Write a short essay addressing the story in economic terms (supply and demand analysis, market structure, and marginal analysis, incentivizing, and public choice theorization). Focus on the obstacles represented at the growers, wholesale, and retail levels.
2- Watch the following video:https://www.youtube.com/watch?v=Q1SMjeuyF-Y (Links to an external site.)Additionally, read section 17-3 (Why Worry Over the National Debt?) of the text.
What are the myths associated with a growing national debt? What are the real concerns, if any?
