Subscribe Subscribe   Find us on Twitter Follow POL on Twitter  



"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.



Rafael Mangual
Project Manager,
Legal Policy

Manhattan Institute


Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.