Is owning marijuana stocks in the same moral gray area as owning stocks in an alcohol or tobacco firm? This ethicist has thoughts.
Illinois recently became the 11th state to legalize marijuana for recreational use. As more states follow suit, legal cannabis spending is expected to grow over 200% from about $9 billion in 2017 to $31 billion in 2022.
Scholar David Vogeldefines socially responsible investing as “practices that improve the workplace and benefit society in ways that go above and beyond what companies are legally required to do.” For instance, fossil fuels, while meeting the demands for a relatively cheap and consistent energy source, unequivocally contribute to air pollution and negatively impact human and environmental health.The case of tobacco is similar. It is highly addictive and may seriously compromise a healthy and long life.
The American Lung Association advises against smoking marijuana due to the risks it poses for lung health.Even though marijuana is not recognized by the Federal Drug Administration as a medicine, the National Institutes of Health recognizes chemicals derived from the plant can help increase appetite, decrease pain, inflammation and nausea.
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