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But marijuana businesses are bracing for a possible clampdown.

The Moral Status of Marijuana Use

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With the deck still stacked against marijuana stocks, and expected to remain that way for years to come, investors should do their best to temper their expectations.

Both of these uses are morally impermissible.

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But most marijuana use today is not for medical reasons. More typically, marijuana is used either a) with the intention of achieving an altered state of consciousness by “getting high” or b) with the intention of “getting high” as a means to a further end that is perceived as good, such as building community or having a religious or aesthetic experience.


The Case of Legal Regulation: Is Marijuana Different from Alcohol?

The fact that these are voter-driven ballot initiatives is both a blessing and a curse.
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The future of our project in self-government depends on the existence of a free and virtuous citizenry. Widespread drug abuse is a not a sign of liberty realized, but of liberty lost.

Why should the law treat marijuana any differently?
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Marijuana abuse also damages friendship. Even if one is choosing to get high with a group of friends, hoping to deepen bonds of loyalty and camaraderie, there is no actual sharing achieved or common good participated in by virtue of the high, as each person’s getting high—a focus on his own state of mind and felt conscious state—precludes him to that extent from communion with the others. One’s subjective feelings cannot be truly shared by others. In other words, regardless of any other goods the group is actually participating in at the same time, getting high together does nothing to contribute to those goods and may harm them.

A Child-Oriented Approach to Policy

The use of marijuana with the intention of getting high, whether as a means or an end, harms the basic good of health in obvious ways. The effects experienced by someone who has imbibed alcoholic beverages too freely—impaired motor skills and disrupted psychological functioning—are similar to the effects experienced by someone who is high on marijuana. More generally, as , one’s use of the drug for non-medical purposes serves to detract from healthy functioning by either suppressing or intensifying certain functions of one’s body and mind to the detriment of the healthy harmony that should exist among the various functions.

Legalizing Marijuana Won’t Make Us More Free

Thus, it is possible that “medical marijuana” laws may be permissible, so long as such laws provide for a regulatory framework that does not allow individuals to grow their own supply of the drug, ensures that medical prescriptions are used only by those to whom they are issued, and restricts prescriptions for the drug to cases where there is no less mind-altering medical treatment reasonably available to the patient.

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When it comes to marijuana use, it is possible that there may be legitimate medical reasons to ingest the drug. In such circumstances, when there is an intelligible good to be served by ingesting marijuana and there are no defeating reasons not to do so—consequences of use, side effects, effects on others, availability of other less problematic forms of medical treatment for the health problem in question, legal status of the drug—one may use marijuana.

Federal marijuana bill would legalize low-THC cannabis …

Marijuana is a psychoactive substance—a substance introduced into the body for the purpose of affecting how one feels. The spectrum of psychoactive substances ranges from your daily cup of coffee or tea to pain killers such as Advil. It includes tobacco, alcohol, and antidepressants as well as less frequently used substances such as marijuana, cocaine, and heroin. Even if such psychoactive substances can be used morally, they can certainly be abused and used immorally.