|
Viewing subjects through an economic lens—whether it’s
thinness,
skiing
or
superintelligence—can
lead to surprising insights. That’s true of smoking. The share prices of American tobacco companies are soaring even though fewer people are buying cigarettes. Why?
The answer
has to do with price elasticities.
As a (very) occasional participant in Parkrun, I was pleased to see
this article
on the event, which has become a Saturday-morning habit for 200,000 people across Britain. From humble origins it has become one of the country’s most successful public-health schemes. | 
