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Demerit Good
In economics, a demerit good is "a Good (economics and accounting), good or Service (economics), service whose consumption is considered unhealthy, degrading, or otherwise socially undesirable due to the perceived negative effects on the consumers themselves"; it could be over-consumed if left to market forces. Examples of demerit goods include tobacco, alcoholic beverages, recreational drugs, gambling, junk food, pornography, and prostitution. Because of the nature of these goods, governments often levy taxes on these goods (specifically, sin taxes), in some cases regulating or banning consumption or advertisement of these goods. Concept There is an important conceptual distinction between a demerit good and a negative externality. A negative externality occurs when the consumption of a good has measurable negative consequences on others who do not consume the good themselves. Pollution (due, for example, to automobile use) is the canonical example of a negative externality. By c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on glossary of economics, these elements. Other broad distinctions within economics include those between positive economics, desc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Negative Externality
In economics, an externality or external cost is an indirect cost or benefit to an uninvolved third party that arises as an effect of another party's (or parties') activity. Externalities can be considered as unpriced goods involved in either consumer or producer market transactions. Air pollution from motor vehicles is one example. The cost of air pollution to society is not paid by either the producers or users of motorized transport to the rest of society. Water pollution from mills and factories is another example. All consumers are all made worse off by pollution but are not compensated by the market for this damage. A positive externality is when an individual's consumption in a market increases the well-being of others, but the individual does not charge the third party for the benefit. The third party is essentially getting a free product. An example of this might be the apartment above a bakery receiving the benefit of enjoyment from smelling fresh pastries every mornin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cigarette Taxes In The United States
In the United States, cigarettes are taxed at both the federal and state levels, in addition to any state and local sales taxes and local cigarette-specific taxes. Cigarette taxation has appeared throughout American history and is still a contested issue today. History Although cigarettes were not popular in the United States until the mid-19th century, the federal government still attempted to implement a tax on tobacco products such as snuff early on in its history. In 1794, secretary of the treasury Alexander Hamilton introduced the first ever federal excise tax on tobacco products. Hamilton's original proposal passed after major modifications, only to be repealed shortly thereafter with an insignificant effect on the federal budget. Even though Hamilton's tax on tobacco failed, tobacco taxation continued to play an important role in American history. On July 1, 1862, the United States Congress passed excise taxes on many items including tobacco. This occurred as a result of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alcohol Law
Alcohol laws are laws in relation to the manufacture, use, being under the influence of and sale of alcohol (also known formally as ethanol) or alcoholic beverages that contains ethanol. Common alcoholic beverages include beer, wine, (hard) cider, and distilled spirits (e.g., vodka, rum, gin). The United States defines an alcoholic beverage as "any beverage in liquid form which contains not less than one-half of one percent of alcohol by volume", but this definition varies internationally. These laws can restrict those who can produce alcohol, those who can buy it (often with minimum age restrictions and laws against selling to an already intoxicated person), when one can buy it (with hours of serving and/or days of selling set out), labelling and advertising, the types of alcoholic beverage that can be sold (e.g., some stores can only sell beer and wine), where one can consume it (e.g., drinking in public is not legal in many parts of the US), what activities are prohibited w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Soda Tax
A sugary drink tax, soda tax, or sweetened beverage tax (SBT) is a tax or surcharge (food-related fiscal policy) designed to reduce consumption of sweetened beverages. Drinks covered under a soda tax often include carbonated soft drinks, sports drinks and energy drinks. This policy intervention is an effort to decrease obesity and the health impacts related to being overweight, however the medical evidence supporting the benefits of a sugar tax on health is of very low certainty. The tax is a matter of public debate in many countries and beverage producers like Coca-Cola often oppose it. Advocates such as national medical associations and the World Health Organization promote the tax as an example of Pigovian taxation, aimed to discourage unhealthy diets and offset the growing economic costs of obesity. Design Tax design approaches include direct taxes on the product and indirect taxes. Indirect taxes include import/export taxes on sugar or other ingredients before it has ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pigovian Tax
A Pigouvian tax (also spelled Pigovian tax) is a tax on any market activity that generates negative externalities (i.e., external costs incurred by the producer that are not included in the market price). The tax is normally set by the government to correct an undesirable or inefficient market outcome (a market failure), and does so by being set equal to the external marginal cost of the negative externalities. In the presence of negative externalities, social cost includes private cost and external cost caused by negative externalities. This means the social cost of a market activity is not covered by the private cost of the activity. In such a case, the market outcome is not efficient and may lead to over-consumption of the product. Often-cited examples of negative externalities are environmental pollution and increased public healthcare costs associated with tobacco and sugary drink consumption.. In the presence of positive externalities (i.e., external public benefits gaine ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heroin Addict
Opioid use disorder (OUD) is a substance use disorder characterized by cravings for opioids, continued use despite physical and/or psychological deterioration, increased tolerance with use, and withdrawal symptoms after discontinuing opioids. Opioid withdrawal symptoms include nausea, muscle aches, diarrhea, trouble sleeping, agitation, and a low mood. Addiction and dependence are important components of OUD. Risk factors for OUD include a history of opioid misuse, current opioid misuse, young age, socioeconomic status, race, untreated psychiatric disorders, and environments that promote misuse (social, family, professional, etc.). Complications may include opioid overdose, suicide, HIV/AIDS, hepatitis C, and problems meeting social or professional responsibilities. Diagnosis may be based on criteria by the American Psychiatric Association in the DSM-5. If more than two of 11 criteria are present during a year, the diagnosis is said to be present. Opioids include substances suc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paternalism
Paternalism is action that limits a person's or group's liberty or autonomy and is intended to promote their own good. Paternalism can also imply that the behavior is against or regardless of the will of a person, or also that the behavior expresses an attitude of superiority. Paternalism, paternalistic and paternalist have all been used as a pejorative for example in the context of societal and/or political realms and references. Some such as John Stuart Mill think paternalism to be appropriate towards children, saying: Paternalism towards adults is sometimes thought of as treating them as if they were children. Etymology The word ''paternalism'' derives from the adjective ''paternal'', which entered the English language in the 15th century from Old French ''paternel'' (cf. Old Occitan ''paternal'', as in Catalan, Spanish and Portuguese), itself from Medieval Latin ''paternalis''. The classical Latin equivalent was ''paternus'' "fatherly", from ''pater'' "father". Types ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Welfarism
In its most general sense, welfarism is a theory about what has value or what matters. It can be defined as the view that well-being is the only thing that has intrinsic value. ''Pure welfarists'' hold that this value is directly determined by the individual degrees of well-being of each entity. ''Impure welfarists'', on the other hand, include other factors related to well-being, like whether the well-being is equally distributed among sentient entities. Some authors understand welfarism in a more specific sense: not just as a theory of value but also as a moral theory. On this view, what one should do is ultimately determined by considerations of well-being. In this sense, it is often seen as a type of consequentialism and can take the form of utilitarianism, in which the right action, policy or rule is the one leading to the maximal amount of well-being. It is important for various discussions and arguments about welfarism how the nature of well-being is understood. Well-bein ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Welfare Economics
Welfare economics is a branch of economics that uses microeconomic techniques to evaluate well-being (welfare) at the aggregate (economy-wide) level. Attempting to apply the principles of welfare economics gives rise to the field of public economics, the study of how government might intervene to improve social welfare. Welfare economics also provides the theoretical foundations for particular instruments of public economics, including cost–benefit analysis, while the combination of welfare economics and insights from behavioral economics has led to the creation of a new subfield, behavioral welfare economics. The field of welfare economics is associated with two fundamental theorems. The first states that given certain assumptions, competitive markets produce ( Pareto) efficient outcomes; it captures the logic of Adam Smith's invisible hand. The second states that given further restrictions, any Pareto efficient outcome can be supported as a competitive market equilibrium. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Second-hand Smoke
Passive smoking is the inhalation of tobacco smoke, called secondhand smoke (SHS), or environmental tobacco smoke (ETS), by persons other than the intended "active" smoker. It occurs when tobacco smoke enters an environment, causing its inhalation by people within that environment. Exposure to secondhand tobacco smoke causes disease, disability, and death. The health risks of secondhand smoke are a matter of scientific consensus. These risks have been a major motivation for smoke-free laws in workplaces and indoor public places, including restaurants, bars and night clubs, as well as some open public spaces. Concerns around secondhand smoke have played a central role in the debate over the harms and regulation of tobacco products. Since the early 1970s, the tobacco industry has viewed public concern over secondhand smoke as a serious threat to its business interests. Harm to bystanders was perceived as a motivator for stricter regulation of tobacco products. Despite the industr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cigarette
A cigarette is a narrow cylinder containing a combustible material, typically tobacco, that is rolled into thin paper for smoking. The cigarette is ignited at one end, causing it to smolder; the resulting smoke is orally inhaled via the opposite end. Cigarette smoking is the most common method of tobacco consumption. The term ''cigarette'', as commonly used, refers to a tobacco cigarette, but the word is sometimes used to refer to other substances, such as a cannabis cigarette or an herbal cigarette. A cigarette is distinguished from a cigar by its usually smaller size, use of processed leaf, and paper wrapping, which is typically white. Since the 1920s, scientists and doctors have been able to link smoking with respiratory illness. Researchers have identified negative health effects from smoking cigarettes such as cancer, chronic obstructive pulmonary disease (COPD), heart disease, and other health problems relating to nearly every organ of the body. Nicotine, the psycho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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