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"The Tobacco Master Settlement and Antitrust"



Former chief FTC economist Jeremy Bulow, who's done some of the most incisive analysis of the Great Tobacco Robbery of 1998, has a new working paper out (PDF) spelling out many of the deal's ongoing consequences. One tidbit, concerning the benevolent cartelizing influence of the National Association of Attorneys General:

The owners of the largest grandfathered SPMs [subsequent participating manufacturers, small cigarette producers that joined after the deal was struck] have all become extremely wealthy courtesy of NAAG --- in addition to the owner of Medallion, the owners of Commonwealth and Santa Fe sold out for over a billion dollars between them.

 

 


Isaac Gorodetski
Project Manager,
Center for Legal Policy at the
Manhattan Institute
igorodetski@manhattan-institute.org

Katherine Lazarski
Press Officer,
Manhattan Institute
klazarski@manhattan-institute.org

 

Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.