Change is needed: what are the options?There are three main approaches through which this particular market failure and related problems can be addressed, and any organisation charged with preventing market abuses would wish to consider each. First, creating more competition in the market; second, nationalising tobacco companies; and, third, regulating to overcome the negative consequences of market failure. The first would be both undesirable (as increased competition in the cigarette market would have negative public health consequences) and largely impossible given the existing barriers to market entry, which, as outlined above, will increase as tobacco control measures progress.
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The syrupy kosher wines of the past stemmed mainly from economics. Jewish immigrants to America needed wine, a crucial part of their religious traditions, but didn’t have access to high quality grapes. So they used the Concord grapes that grow in the Northeast, producing wines with an unpleasant character, usually describe as “foxy,” which was masked by adding sugar..
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