From: Velvet Glove, Iron Fist
As covered by City AM (and no one else, as far as I can see), the World Bank has produced a report about the illicit tobacco trade.
If you thought a UN agency would ask a disinterested economist to investigate this topic, you’d be sadly mistaken. Instead, they got Sheila Dutta, a ‘public health’ professional, to put the document together and so the top line is that the rise of black market tobacco has got next-to-nothing to do with economic incentives, ie. high tobacco taxes…
