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In the case of the tobacco companies, the transaction cost of purchasing cigarettes is the chance of contracting lung cancer, a grave externality

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"Were going to get to a point when somebody is going to decide to vigorously enforce this, and there will be evictions," he says

In 2022, leaders from 18 different environmental and public health groups directed an open letter to the U.K.s Environment Secretary and Health Secretary urging them to launch a full-scale ban on disposable e-cigarettes

Both groups have long been targeted by the tobacco industry

$42 billion pounds in total borrowings, so ~$38 billion in net debt