The True Cost of Smoking

by Christopher Paul on June 8, 2011

The Incidental Economist looks into what the personal cost of smoking is for the average 24 year old. The chart below is an estimate of the personal cost of smoking – it ends up being about $33 per pack. But when you add external factors, it goes up to $40 a pack.

Smokingcosts

While these figures are in 2000’s dollars, its still a lot. They found that:

“The present value of the private cost of smoking to a 24 year old smoker in 2000 was $141,181 ($182,860 for men, and $86,236 for women) per smoker. The national or aggregate cost that each cohort of 24 year old smokers impose upon themselves over the course of their life is estimated to be $168 Billion (all in 2000 dollars).”

I’d like to see what the costs are adjusted for 2010’s dollars. Tomorrow’s post will show how they calculated the societal costs which bring the cost to the $40 mentioned earlier.

Smoking – The Incidental Economist via The Awl

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