New Mexico ought to legalize marijuana at this point. Colorado has already, and it is one of New Mexico's neighboring states. Many youths have already tried marijuana illegally, and its consumption is at a record high, most likely due to the fact that is "forbidden fruit." Legalizing marijuana may actually lower rates of consumption.
I definitely think that New Mexico should legalize Marijuana. Most of the violence in that state can be attributed to the drug gangs, specially due to its proximity to Mexico. Legalizing it will discourage a good part of these illegal operations, although they also deal with heavier drugs, such as methamphetamine, heroin and cocaine. It will also yield higher tax revenues to the state, which can be used to improve education and invest in programs to keep youth away from drugs.
With the taxation on legal marijuana sales, Colorado's economy has been used as the shining example of the benefits of a state making "weed" legal. New Mexico would certainly show similar benefits, as would an U.S. State. As long as the substance is regulated as other mind-altering legal drugs are, there is no reason for NM not to legalize marijuana.
New Mexico (and all other states) should legalize the use and sale of marijuana. Other states have already done such things, and it has been met with stunning success. Colorado, Washington, and Oregon are doing well to tax the sale and production of a large trade that they previously were turning a blind-eye to. And reducing the number of petty drug criminals that are clogging up the jails will do only good things for the state!