Sorry it was unclear, I was replying specifically to:
> If cigarettes were 3-4$ a pack (which they would be without sin taxes and regulatory overhead),
Trying to show that 3-4$ a pack is not a more "natural" price for cigarettes than the current one, that it is a matter of perspective, and that if one wanted to construct such a natural price all externalities would have to be taken into account.
> If cigarettes were 3-4$ a pack (which they would be without sin taxes and regulatory overhead),
Trying to show that 3-4$ a pack is not a more "natural" price for cigarettes than the current one, that it is a matter of perspective, and that if one wanted to construct such a natural price all externalities would have to be taken into account.