Upcoming Events

Feb
13
Tue
2018
9:00 am How to become a Non-Executive Di... @ Institute of Directors
How to become a Non-Executive Di... @ Institute of Directors
Feb 13 @ 9:00 am – 4:30 pm
How to become a Non-Executive Director – London 13 February 2018 @ Institute of Directors
Find out how you can obtain a Non-Executive Director position by booking a place on this interactive 1-day course. ‘A well structured and presented introduction to the responsibilities, challenges and attributes required of being a[...]
Mar
13
Tue
2018
9:00 am The Effective Non-Executive Dire... @ Institute of Directors
The Effective Non-Executive Dire... @ Institute of Directors
Mar 13 @ 9:00 am – 4:30 pm
The Effective Non-Executive Director – London 13 March 2018 @ Institute of Directors
The effective Non-Executive Director course helps you to be an effective non-executive director. It instils a real sense of what is expected of NEDs, and how you can meet the challenge. This one-day interactive course is aimed[...]
Apr
24
Tue
2018
9:00 am How to become a Non-Executive Di... @ Orchard Street Business Centre
How to become a Non-Executive Di... @ Orchard Street Business Centre
Apr 24 @ 9:00 am – 4:30 pm
How to become a Non-Executive Director – Bristol 24 April 2018 @ Orchard Street Business Centre
Are you thinking of becoming a Non-Executive Director as part of a Portfolio Career or to develop your boardroom skills prior to taking up an executive director role? Join us on Tuesday, April 24 2018 to[...]
May
22
Tue
2018
9:00 am How to become a Non-Executive Di... @ Institute of Directors
How to become a Non-Executive Di... @ Institute of Directors
May 22 @ 9:00 am – 4:30 pm
How to become a Non-Executive Director – London 22 May 2018 @ Institute of Directors
Find out how you can obtain a Non-Executive Director position by booking a place on this interactive 1-day course. ‘A well structured and presented introduction to the responsibilities, challenges and attributes required of being a[...]
Jun
12
Tue
2018
9:00 am The Effective Non-Executive Dire... @ The Plaza
The Effective Non-Executive Dire... @ The Plaza
Jun 12 @ 9:00 am – 4:30 pm
The Effective Non-Executive Director – Liverpool 12 June 2018 @ The Plaza
The effective Non-Executive Director course helps you to be an effective non-executive director. It instils a real sense of what is expected of NEDs, and how you can meet the challenge. This one-day interactive course is aimed[...]

In the marijuana industry, size doesn’t always matter

A bag of marijuana being prepared for sale sits next to a money jar at BotanaCare in Northglenn, Colorado, December 31, 2013. Proprietors of the first marijuana retailers licensed to sell pot for recreational use in Colorado, including BotanaCare, were busy rolling joints and stocking shelves with their leafy merchandise on Tuesday, ahead of a New Year's Day grand opening. (REUTERS/Rick Wilking)

In the marijuana reform conversation, one of the grandest boogeymen is “Big Marijuana.” Reform advocates, opponents of marijuana legalization, patients, consumers, media, and many others worry openly that the marijuana industry will consolidate into a corporate beast and a bad market actor reminiscent of Big Tobacco companies.

In a paper released earlier this month entitled, “Worry about bad marijuana—not Big Marijuana,” Jonathan Rauch and I engage the likelihood and risks of the emergence of such a corporate entity. Although the paper makes several points, we begin with a discussion of exactly what “Big Marijuana” means. What we find is that the concept is tossed around so frequently, assigned to so many different types of market actors, that it has ultimately lost meaning.

Often, the term is used to describe any large corporate entity or consolidation effort within the marijuana industry. In reality, standard corporate consolidation or the existence of large companies in an industry are basic aspects in capitalism. What’s more there are huge differences between marijuana industry actors today and Big Tobacco companies of the middle of the 20th century—in terms of size, scope, and market power to name a few. It should be expected that an industry that is young, fractured, and rapidly maturing will endure periods of consolidation and in the process, large and successful corporate entities will emerge. One should not assume, however, that such behaviors are sinister, suspect, or intent on engaging in immoral or illegal activities.

Nor should one assume that only large corporate entities can engage in bad behaviors. They surely can, but other market actors may as well. The policy conversation around marijuana industry structure often holds Big Marijuana up as the actor who will bring problems for enforcement, diversion, sale to minors, sale to problem users, etc. The reality is that a marijuana entity of any size can behave in many of those behaviors. The problem with an unending focus on industry structure or corporate size is that policymakers and regulators can give a pass to smaller actors who may engage in the types of behaviors people inside and outside of industry seek to avoid—those same types of behaviors we saw from the tobacco industry.

We argue there is a more sensible, safer step forward that begins with a simple premise. There are certain outcomes that the marijuana industry must avoid, and policy and regulation should preferably ban, but at least disincentivize those outcomes. We mention a few in the paper: antisocial marketing (marketing to children or problem users), regulatory capture, outcomes that hurt medical marijuana patients, and increasing barriers to entry and corporate crowd out—but others like diversion, illegal sales, and more must (and do) concern policy makers. In some cases, certain behaviors are more likely to come from larger corporate entities, but many behaviors can happen, independent of firm size.

There are a variety of ways to avoid some of these outcomes beyond a focus on firm size and corporate consolidation. Some of those options are highlighted by the RAND Corporation’s Drug Policy Research Center. In “Options and Issues Regarding Marijuana Legalization,” the authors argue a shift away from the corporate model—either through the use of non-profit entities or government operation of whole portions of the market (supply, retail, or both) can have real benefit. These approaches can allow regulators greater control over negative market actions and induce incentives focused on public health and good governance, rather than profit maximization. Those arguments are quite convincing, but as states continue to construct medical and recreational marijuana programs using the corporate model, it is important to consider policy approaches within that existing framework.

Thus, we recommend that regulators and policy makers not primarily focus on firm size, corporate consolidation, or the corporatization of the marijuana industry. Instead, they should work to avoid specific outcomes they see as unwanted or bad and pass laws, promulgate regulations, conduct information and education campaigns, and take whatever actions are necessary to stop them in their tracks. At the end of the day, one thing is clear: no one wants “Bad Marijuana” regardless of whether it comes from Big, Small, or Otherwise-Sized Marijuana.

Click through to read the full report, “Worry about bad marijuana—not Big Marijuana.”

Click through to watch the public event and paper release “Big Marijuana: How corporations and lobbies will shape the legalization landscape.”

Authors

  • John Hudak

Image Source: © Rick Wilking / Reuters […]

Campbell Tickell: Member, Risk and Assurance Committee

Member, Risk and Assurance Committee Recruiter: Campbell Tickell Location: Leeds Salary:

The post Campbell Tickell: Member, Risk and Assurance Committee appeared first on NEDworks.

[…]

Chair of Lambeth, Lewisham and Southwark Fulfilling Lives Programme Core Strategic Group

Chair of Lambeth, Lewisham and Southwark Fulfilling Lives Programme Core Strategic Group

Lambeth, Lewisham and Southwark Fulfilling Lives Programme Core Strategic Group – Chair Job title – Chair Location – Lambeth, Southwark and Lewisham venues Salary – £500 a day Posted – 30.06.16 Close date – 29.

The post Chair of Lambeth, Lewisham and Southwark Fulfilling Lives Programme Core Strategic Group appeared first on NEDworks.

[…]

Independent Non-Executive Director – UK Hydrographic Office – United Kingdom

Independent Non-Executive Director – UK Hydrographic Office – United Kingdom

Independent Non-Executive Director – UK Hydrographic Office Closing date: 27 Jun 2016 Reference number: 1498189 Salary:

The post Independent Non-Executive Director – UK Hydrographic Office – United Kingdom appeared first on NEDworks.

[…]

Home Office: Chair of the College of Policing

Chair of the College of Policing Recruiter: Home Office Location: London (Central), London (Greater) Salary:

The post Home Office: Chair of the College of Policing appeared first on NEDworks.

[…]

Department for Business, Innovation and Skills: The Further Education Commissioner

Department for Business, Innovation and Skills: The Further Education Commissioner

The Further Education Commissioner Recruiter: Department for Business, Innovation and Skills Location: Home based, with extensive travel Salary:

The post Department for Business, Innovation and Skills: The Further Education Commissioner appeared first on NEDworks.

[…]

Department for Business, Innovation and Skills: Deputy FE Commissioners

Department for Business, Innovation and Skills: Deputy FE Commissioners

Deputy FE Commissioners Recruiter: Department for Business, Innovation and Skills Location: Home based, with extensive travel Salary:

The post Department for Business, Innovation and Skills: Deputy FE Commissioners appeared first on NEDworks.

[…]

How to become a Non-Executive Director – Bristol 19 July 2016

How to become a Non-Executive Director – Bristol 19 July 2016

Are you thinking of becoming a Non-Executive Director as part of a Portfolio Career or to develop your boardroom skills prior to taking up an executive director role? Join us on Tuesday, July 19 2016 to find out how you can become a Non-Executive Director “I found the course very helpful, as I wanted to understand […]

The post How to become a Non-Executive Director – Bristol 19 July 2016 appeared first on NEDworks.

[…]

Non Executive Directors – Enfield Council

Non Executive Directors – Enfield Council

Enfield Council – Non Executive Directors 2-3 days per month £6,000 per year Enfield Council is seeking to appoint two dynamic, entrepreneurial non-executive directors for a developing trading company wholly owned by the local authority called Independence and Well Being Enfield. The appointments will initially be to the Shadow Board, transitioning to the Executive […]

The post Non Executive Directors – Enfield Council appeared first on NEDworks.

[…]

Australians want companies to pay more tax — except small businesses

Most Australians want to see large corporations and multinationals paying more tax, but have a different take on taxes for small businesses.

[…]