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Smoking And Its Effects On The Economy


How Much Smoking Is Costing the Economy?


Title: Smoking And Its Effects On The Economy
Length: 4 pages (1139 Words)
Style: N/A


Smoking and Its Effects on the Economy


How Much Smoking Is Costing the Economy?

Smoking is the leading cause of many of the preventable ailments and premature deaths in the United States and also globally. It has high health and economic related costs to the affected individuals, employers as well as the entire society. There is an estimate of not less than US$500 billion economic damage caused by smoking each year. The smoking-related illnesses in the United States cost, at least, $300 billion per year. It is inclusive of approximately $170 billion for direct medical care for adults and more than $156 lost in productivity which is inclusive of $5.6 billion lost in productivity as a result of secondhand smoke exposure. There is also the increase in cigarettes prices that leads to significant decrease in cigarette smoking. The increase in price is the most efficient way of reducing cigarettes smoking. For instance, 10% increase in price reduces cigarettes smoking by approximately 3-5 percent. Research reveals that young and youthful adults have a higher response to price increase than the adults.


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