Time to stub out toxic conflicts of interest

The world’s tobacco merchants are down on Australia after the country’s highest court backed the toughest cigarette-labelling rules anywhere.

So far, the focus has been on intellectual-property rights, possible lawsuits by British American Tobacco, Japan Tobacco and their ilk, and the plight of investors. More attention should be on how many lives will be saved and how much economic output won’t be squandered as other nations follow Australia’s lead.

There’s a reason Big Tobacco waged such a ferocious fight against Australia’s ban on logos and requirements for graphic health warnings that cover 90% of the back of cigarette packs and 70% of the front. Should this precedent spread, and there’s every reason to think it will, it would hasten the end of the industry’s run of growth and profitability.