New Jersey inched closer toward legalized recreational marijuana use on Nov. 26 when the senate budget and appropriations committee and assembly appropriations committee approved a new plan to regulate and tax it.
Hayes stresses that there will be both economic benefits and costs from legalizing marijuana.
So what will be the economic impact of legal cannabis and what can we learn from other states that have legalized its recreational use?
To answer those questions, we turn to Michael Hayes, an assistant professor of public policy and administration at Rutgers University–Camden.