Prompted by “Survey Says Pot Prices Are Crashing in Colorado”: http://www.hightimes.com/read/survey-says-pot-prices-are-crashing-colorado
“Colorado’s recreational marijuana market is now over a year old, and while it continues to grow, a new survey has found that pot prices are dropping faster than most expected.”
I’m not part of that “most” and we’ve only begun with price alteration from legality.
Cannabis can be professionally grown to the highest quality in all 50 states, so basically supply can always outweigh demand. Basic economic laws mean the price will heavily fall as the many suppliers (increasing in numbers like the ‘gold rush’) compete.
The limit comes from ‘star growers’ (i.e. the best of the best in terms of cannabis growing skill). That likely relatively small group of wonderfully talented folks will be able to command higher prices for their best work.
I predict a radical evolution of cannabis (i.e. competition and relatively fast growing cycles mean cannabis will continue to rapidly evolve — much faster than dog breeding).
The result will be a continuous leap of psychedelic effects (e.g. more complex psychological textures with better precision) from cannabis use and a widespread market containing today’s high-quality result for most people (e.g. well-grown Blue Dream, Grandaddy Purple, etc.), while “cannabiphiles” (or such) will tap into a smaller and specialized place for groundbreaking cannabis results (where I hope to lawfully and righteously find myself as a ‘fannabis of cannabis’).