The legalization of recreational cannabis has been described as a major social experiment for Canada, but it is also a big economic experiment. As the provinces prepare to regulate retail sales, as the federal government sets the excise tax rates, and as capital markets react to this burgeoning industry, there are still many unknowns. How will consumers adapt to the market? Will there be too much concentration among licensed producers? Is Canada getting the taxation right, given the social costs potentially associated with cannabis consumption? An expert roster of Policy Options contributors helps us understand all the factors that will ultimately determine how successful the government is in its overarching goal – to replace the illicit cannabis market with a well-functioning legal one.

This special feature was co-edited by IRPP research director Colin Busby. 

Photo: Shutterstock, by Aha-Soft.