Why cigarettes are like private campaign contributions: path dependence.
A couple days ago, after much work and careful deliberation, a federal court declared the obvious:
A federal judge Thursday ruled that cigarette makers were liable for a decades-long conspiracy to hide the dangers of smoking but declined to impose financial penalties on the industry.
In her 1,653 page opinion, U.S. District Judge Gladys Kessler wrote:
Cigarette smoking causes disease, suffering, and death. Despite internal recognition of this fact, defendants have publicly denied, distorted, and minimized the hazards of smoking for decades.
Why is this story even news? The dangers of tobacco and the deceit of tobacco companies have long been obvious. There has never been a more damning case against any industry. See here. See also, the Executive Summary of Preliminary Proposed Finding of Fact in US v. Philip Morris, et al.
…Cigarette smoking and exposure to secondhand smoke kills nearly 440,000 Americans every year. The annual number of deaths due to cigarette smoking is substantially greater than the annual number of deaths due to illegal drug use, alcohol consumption, automobile accidents, fires, homicides, suicides and AIDS combined. Approximately one out of every five deaths that occur in the United States is caused by cigarette smoking.
At the end of 1953, the chief executives of the five major cigarette manufacturers in the United States at the time – Philip Morris, R.J. Reynolds, Brown & Williamson, Lorillard, and American – met at the Plaza Hotel in New York City with representatives of the public relations firm Hill