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“Community-controlled decriminalization is a better path to mainstreaming psychedelics than relinquishing power to the medical industry and pharmaceutical cartels.”

By Kevin Walby, University of Winnepeg & Jamie Brownlee, Carleton University, via The Conversation

Once stigmatized and outlawed, psychedelics are moving from the counterculture to the mainstream. From Prince Harry’s use of psilocybin to National Football League quarterback Aaron Rodgers’s adventures with ayahuasca, our media is awash with accounts of their professed benefits.

Hundreds of universities around the world are now engaging in psychedelic research. And psychedelic legalization initiatives are taking hold.

Psychedelics are becoming big business. Just as private capital flooded the cannabis sector years ago, a psychedelic gold rush is underway.

Wealthy entrepreneurs are investing in the psychedelic industry while biotechnology startups are raising capital and running clinical trials on novel psychedelic molecules. Venture capitalists are eyeing the prospects of a new lucrative mass market.

Three causes for concern

To date, most debates about psychedelics have offered little critical analysis of their relationship to the political economy of modern capitalism and broader power structures. In our new book Psychedelic Capitalism, we make three central claims about the so-called psychedelic renaissance.

First, the medicalization of psychedelics is likely to restrict access and reinforce existing health and social inequalities.

Second, the corporatization of psychedelics will enable economic elites to dominate the market while appropriating the vast reservoir of knowledge built up by Indigenous communities, public institutions and underground researchers.

And third, rather than representing progressive drug reform, the limited legalization of select psychedelics for medical use will help to entrench and sustain the drug war and the criminalization of most drug use.

Read more

https://www.marijuanamoment.net/medical-focused-psychedelic-capitalism-will-enrich-elites-while-continuing-criminalization-of-most-use-op-ed/

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