Philip Morris - Right or
Wrong?
Pro Philip
Morris
From A Fool News
Writer
Written by
Dale Wettlaufer
The Motley Fool
TMF Ralegh
Is Philip Morris the merchant of death or is it a standard-bearer for American
libertarian values? Can we somehow resist the allure of the Marlboro Man,
who is trying to enslave us, or are we just amoeba that react helplessly
to images and suggestions strewn nerfariously throughout our culture? There
was a time when you were just plainly a dummy for smoking since everyone
knew it was bad. Now, it's the fault of anyone but the smoker for indulging
in a dirty habit.
Investing in Philip Morris cannot be seen as an immoral act because Philip
Morris is not an immoral company unless you believe that we are amoeba reacting
to external stimuli beyond our control. For more than a half century, smoking
has been known to be bad for one's health. Philip Morris isn't perpetrating
a horrible crime over a population that doesn't know what it's ingesting,
which is a charge levied by plaintiff after plaintiff in lawsuits against
the industry. Philip Morris is simply delivering what is demanded in a open
economy. Maybe the states' attorneys general should sue their citizens for
being stupid, but then again, it's hard to legislate against stupidity.
Hopefully, the states won't put an excise tax on fattening foods that increase
our chances of suffering heart disease or obesity. From a moral perspective,
certain elements of society might be outraged that companies would sell
artery-clotting foods, but in this case, the outrage is not as great as that
surrounding cigarette companies because of the perceived differences in what
these companies are selling.
As with excise taxes on alcohol, cigarette smokers pay a bunch of money in
taxes when they purchase cigarettes. They also pay more for their healthcare
premiums. If smokers are not paying enough to match the costs they impose
on society, then raise the taxes, but don't try to legislate morality. As
with the failed "War on Drugs," going after the dealer isn't going to stop
the problem. The problem lies in the demand for the products. Killing advertising
isn't going to kill demand and witholding your purchase of Philip Morris
stock isn't going to change their cash flow situation, either.
Dale Wettlaufer
The Motley Fool
News Writer |