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# Winter 2002 

Vol. 25 No. 4 

[Subscribe](https://store.cato.org/collections/all-products/products/regulation-magazine) 

##### From the Cover 

### [Smoking “Internalities” ](/regulation/winter-2002/smoking-internalities)

By Jonathan Gruber 

Given smokers’ future preferences, lawmakers should raise cigarette taxes.

### [The New Cigarette Paternalism ](/regulation/winter-2002/new-cigarette-paternalism)

By W. Kip Viscusi 

There are better ways to address smoking than ever-increasing cigarette taxes.

### [My Future Self and I ](/regulation/winter-2002/future-self-i)

By [Thomas A. Firey](https://www.cato.org/people/thomas-firey) 

*Does my future self want to tax my cigarettes?* 

### [Less Hazardous Smokes? ](/regulation/winter-2002/less-hazardous-smokes)

By Gio Batta Gori 

According to the Institute of Medicine, health policy can do more than counsel to discourage smoking; it can promote the use of low-risk tobacco products for smokers unwilling or unable to quit.

##### Features 

#### [How the Packers Lost Out ](/regulation/winter-2002/how-packers-lost-out)

By Michael F. Gorman and [Ike Brannon](https://www.cato.org/people/ike-brannon) 

By eschewing market-based prices for PSLs and instead accepting public financing for stadiums, teams are missing a remarkable revenue opportunity.

#### [Money to Burn? ](/regulation/winter-2002/money-burn)

By [Randal O’Toole](https://www.cato.org/people/randal-otoole) 

Will the Bush administration’s new forest management philosophy diminish the dangers of fire or just increase the Forest Service’s budget?

#### [Drug Research and Price Controls ](/regulation/winter-2002/drug-research-price-controls)

By John A. Vernon 

What would happen if the United States adopted other countries’ drug price regulations?

#### [Determining the Price of Price-Anderson ](/regulation/winter-2002/determining-price-price-anderson)

By Anthony Heyes 

What is the cost of federal liability protection for nuclear power?

#### [The Paralyzing Principle ](/regulation/winter-2002/paralyzing-principle)

By Cass R. Sunstein 

Does the Precautionary Principle point us in any helpful direction?

#### [The SEC’s Other Problem ](/regulation/winter-2002/secs-other-problem)

By Lawrence J. White 

It is time to open the bond rating industry to new entrants.

#### [A Role for Government? ](/regulation/winter-2002/role-government)

By Anne Gron and Alan O. Sykes 

Should the government provide terrorism insurance over the short or long term?

##### Briefly Noted 

##### [“UPL” Lawyer Welfare Revisited ](/regulation/winter-2002/upl-lawyer-welfare-revisited)

By George C. Leef 

##### [The Dawn of a New Spectrum Policy? ](/regulation/winter-2002/dawn-new-spectrum-policy)

By [Adam D. Thierer](https://www.cato.org/people/adam-thierer) 

##### In Review 

##### [Book Review: *Alternating Currents: Electricity Markets and Public Policy*](/regulation/winter-2002/book-review-alternating-currents-electricity-markets-public-policy)

By [Richard L. Gordon](https://www.cato.org/people/richard-gordon) 

##### Final Word 

##### [A Great Gag for the Airport ](/regulation/winter-2002/great-gag-airport)

By [Penn Jillette](https://www.cato.org/people/penn-jillette) 

##### Latest Issues 

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