the prohibition of cannabis means that lawmakers spend money and man hours (more money) on prohibiting adults' free exercise of their will on a substance that is, on every measure, less harmful than alcohol. it is impossible to od on cannabis, for instance, in its natural form (I cannot speak about forms that are processed - tho I don't know of any deaths in that way, either.)
Prohibition of alcohol provides an historical demonstration of the value of ending prohibition b/c of the cost, crime and waste of human lives in a useless attempt to force adults to conform to someone else's view of how others should live. Tea totalers may choose not to drink - but that doesn't mean they should be able to force others not to have a glass of wine with dinner - this is the example that we know from our own political history that demonstrates the worthlessness of prohibition.
Prohibition of cannabis (or "marijuana" - which isn't even a botanical term, btw) for recreational use is a violation of the bill of rights. The scheduling of cannabis as it currently exists is a demonstrable lie (i.e. that cannabis has no medicinal value - while Canada is currently marketing liquid cannabis, Sativex, for MS.)
Medicines made from cannabis are most definitely an economic argument - from R&D to targeted methods of treatment for things like cancer - because some studies have indicated cannabis' efficacy in treating forms of cancer, as well - this is something that has been in the medical literature for decades and, recently, more studies have been made available that back up these earlier studies.
Therefore, it's not just hemp that deserves to be made legal.
However, the hysteria around cannabis in general is what keeps hemp illegal - tho, as I've noted before, during the Revolutionary War, Americans were required to grow hemp because of its industrial uses (sails, rope, paper, oil...) During World War II, even after the Marihuana Tax Act of 1937, farmers grew hemp for the war effort (again, for the very reasons they did in the Revolutionary War.)
here's a film about the patriotism of growing hemp in World War II - to overcome the propaganda from Anslinger, etc. over the previous decade.)
http://www.youtube.com/watch?v=jokV8xlJTNE When the state's interest, iow, is seen as more overwhelming that certain favored corporations' interest in engaging in unfair trade, hemp is okay with the state. This, in itself, demonstrates how ridiculous and CORRUPT the illegal status of cannabis really is for this nation.
But, absolutely, in terms of a crop that is both useful and effective as a substitute for the ecological devastation of petrol industries - hemp is far better, more cost effective and less harmful to the environment.
As a way to keep forests intact (to allow for absorption of CO2 and ameliorate planetary warming) as a crop that is carbon neutral or friendly - hemp is FAR superior to the wood pulp industry.
As a way to fuel cars, heat homes, and supply our nation with an alternative fuel supply - hemp should be seen as a necessity for anyone who cares about our future.
http://www.naihc.org/hemp_information/hemp_facts.htmlhemp is also useful as a food and nutritional crop - for oil (non-psychotropic), EFAs, seeds.
It is a great source of fiber for fabrics for clothes, as well.
So, yes, it's obvious that hemp is an economic plus for Americans because of the industries that would arise from its legality. The sad thing is, again, as with health care, with a social safety net, etc. the U.S. is the only western democracy that prohibits the production of hemp. The only reason this is the case is because a very few are allowed to obstruct the economic liberty of the many.