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A more serious concern is that bans on smoking in public places may lead to more smoking at home, as claimed by former British Cabinet Member John Reid
Hudson, Joshua Hilary
Historically, packs contained 10, 12, or 15 cigarettes until World War II popularized the 20-count pack, which later became entrenched due to taxation and health regulations
To view or add a comment, sign in The Economist talks about why American tobacco stocks have outperformed tech in recent years and textbook example of "price-inelastic" buyers: Over the past decade, the # of US smokers has declined by 20m (and cigarettes sold is down by 1/3rd) So, cigarette firms have charged more to their most committed smokers (operating margins grown from 50% to 60%) In 2025, cigarette makers in the US will make operating profit of $22B While the industry goes away, only the most addicted smokers are left
Otherwise, the odor may continue to emit