1. What does an ethical analysis add to Viscusi`s actuarial analysis?
2. Would an ethical analysis change the conclusion reached? Why?

Antismoking advocates cheered in the summer of 1997 when the U.S. tobacco industry agreed to pay out more than US$368.5 billion to settle lawsuits brought by forty states seeking compensation for cigarette-related Medicaid costs. Mississippi Attorney General Mike Moore, who helped organize the states’ legal campaign, called the pact “the most historic public health achievement in history.” But were the states right to do what they did? The fundamental premise of lawsuits, and other anti-tobacco initiatives, is that smokers—and, hence, tobacco companies—place an added tax on all of us by heaping extra costs onto public health care systems. The argument is that those, and other social costs, outweigh the billions in duty and tax revenue that our governments collect from cigarette distribution.

  • CreatedOctober 28, 2014
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