Stoners cheered when Canada legalised cannabis. How did it go so wrong?
Growers have gone bust, and the black market is still thriving
The Observer (UK)
Sunday, April 5, 2020
Sunday, April 5, 2020
Two years on, the Canadian cannabis legalisation experiment hasn’t quite turned out as we reformers had hoped. The black market is still vibrant while cannabis stocks have crashed, medical patients say they can’t get hold of essential medicines, and thousands of jobs have been lost. So what went wrong – and what went right? Alastair Moore, co-founder of Hanway Associates, a London-based cannabis consultancy, says the Canadian industry has been driven by vulture capitalism and wishful thinking. “A mix of greed and naivety led this industry to great heights – and has left it on its knees. While some made lots of money, others lost their investments and now many others have lost their jobs.”
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