With California Beer Against Pot Initiative, It's Bud vs. Bud

If you thought California's merchants of sin would hold hands behind an initiative to legalize marijuana, you forgot one thing: economics. Pot dealers have good reason to fear the government letting average joes in on the Mary Jane market, since legality could flood California with supply and drive down prices and profits for sellers. Now the beer lobby is trying to drown the measure for fear that customers might choose bud over Bud:

The California Beer & Beverage Distributors is spending money in the state to oppose a marijuana legalization proposition on the ballot in November, according to records filed with the California Secretary of State. The beer sellers are the first competitors of marijuana to officially enter the debate; backers of the initiative are closely watching liquor and wine dealers and the pharmaceutical industry to see if they enter the debate in the remaining weeks.

Read the full story at HuffPo.

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Derek Thompson is a senior editor at The Atlantic, where he writes about economics, labor markets, and the entertainment business.

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