After years of wrangling, tobacco is officially becoming an FDA-regulated industry. All in all, we believe the Food and Drug Administration's new oversight will probably prove to be the year's least injurious intrusion of federal power into private affairs. Cigarettes, after all, rank already among the most highly taxed and regulated products in the country. The new FDA role should remove some uncertainty from the business and could facilitate more honest communications about the relative risks of various types of tobacco products. It might even create modest public health benefits by opening the door for less dangerous ways to partake of the golden leaf -- and by amplifying the well-known risks associated with all tobacco consumption. (Sunday's Commentary section will feature columns from two tobacco companies with strong local ties -- and different perspectives on the regulation bill.)
On the other hand, we remain squeamish about all heavy-handed regulation that restricts free speech, including commercial speech. Because limits on tobacco advertising are widely accepted and have been in place for decades, the actual damage will be minimal. Still, it's always worth protesting whenever the First Amendment takes a beating -- especially if free speech is under assault for the noblest of intentions.
We'll also note that tight regulation often brings even more joy to corporate executives than it does to reformers. As a general rule, government restrictions tend to squelch competition and benefit the biggest players in the market. Whether that will be the case with FDA oversight of tobacco remains to be seen. But we wouldn't be surprised if that happens. We'll take some consolation from the likelihood that Richmond's own Philip Morris USA could well be the biggest beneficiary.
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