As we enter the New Year, two states, Washington and Colorado have legalized the sale and use of marijuana.  Since this is America, where we can’t seem to agree on anything, this has raised a large controversy ranging from outrage on one extreme to “oh, get a life” on the other.  What to do with marijuana in our society has been debated for years and now that some states are decriminalizing it (which is contrary to Federal law) my personal opinion is that we are doing it entirely the wrong way.  Over 30 years ago when I was a marketing executive we had a client that is a large tobacco company.  At one of those legendary three-martini lunches we discussed the “weed.”  The client told us very matter-of-factly that his company would like to see marijuana legalized and that it would not only be good for his industry but also good for the country.  The tobacco industry was—and still is—in the perfect position to take on the manufacture of “marijuana cigarettes.”  Our client pointed out all the advantages.  His industry would make lots of money.  On the other hand, total manufacture and sale nationwide would be carefully controlled and the quality and strength of the commercialized product would be standardized.  (Rumor has it that the Washington and Colorado joints will be considerably more powerful than the pothead stuff of the 60s.)  And finally, the state and Federal governments would get a huge amount of tax revenue.  Consider, it costs about 20 cents to manufacture a pack of cigarettes.  The last time I was in New York City, I saw a sign “Marlboros $13.00 a pack.” That’s a lot of tax for the packs.  You have heard all the emotional arguments:  Kids starting on marijuana will become crack addicts.  We are putting people in jail for long periods just for possessing marijuana overcrowding our jails.   For some reason, the legalization of pot is considered by many a moral issue which did not hold up in the case of alcohol.  Remember prohibition? People were going to drink whether the moralists liked it or not so it spawned all sorts of crime and mayhem. Then the mobs made money on booze, now the governments do.  It always amazes me how stupid our policies can be and how we fail to adopt the most rational, workable solutions (see health care which is another issue).  In the case of marijuana, go for the free market solution that conservatives so dearly love.  Turn over manufacture and distribution of marijuana cigarettes to the tobacco industry and let the government regulate it and reap the tax benefits.  How’s that for a compromise?--the conservatives get the privatization of marijuana and the liberals get regulation and more taxes.  Maybe I should become a political advisor.