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December 06, 2006
NYC bans trans fat
I honestly don't know how I feel about this. My economics hero, Milton Freidman, who recently passed away, preached less government intervention, more free markets. So the economist in me says, bugger the consumer. If they want to eat trans fat, become obese, die early from heart-related bad cholesterol, then let them do it.
When I lived in Canada, my tax dollars paid for national health care. I was paying for people to eat trans fat, become obese, and die early from heart-related disease. In that system, sure, ban trans fat. And tobacco, too.
In America, market forces of supply and demand should rule, because I don't have to pay for someone else's bad eating (or smoking) habits. Banning trans fat will drive up the cost of fast food restaurants, resulting either in squeezing their profits, or forcing them to raise their prices. This either means inflationary pressures, or belt-tightening, neither of which is productive for a growing economy.
The restaurants in New York are considering a lawsuit, arguing that more government regulation is bad for business. I agree.
But I also think that government has a responsibility to inform, educate, and possibly intervene, when it comes to public health. Like asbestos. Do I believe government had a responsibility? Absolutely.
I'm not suggesting that trans fat should not be banned. Heck, I don't eat the stuff. I'm a health NUT. And a fitness NUT. I do yoga, and I run, and I walk, and I eat really, really well. I will live to be 125.
But these are my CHOICES, which I make by becoming educated and informed. In my tiny world, the forces of supply and demand are hard at work. I do not demand trans fat, and the price I would pay for it if I did would be zero. So in my tiny world, the market for trans fat doesn't exist.
So where does this leave me. If we're going to ban trans fat, ban tobacco, too. And alcohol. These all have knowable public health care costs. I guess tobacco and alcohol haven't been banned because their lobby groups are stronger. Don't get me wrong, I love wine. And as an educated and informed consumer, I make a choice.
If we're only going part way, then let restaurants to whatever they want, and charge a "fat tax" if they serve food with trans fat. This puts the public health cost right in the hands (literally) of the people who will suffer most by it. It focuses the consumer decision on price. Like the "sin" taxes on tobacco and alcohol, if trans fat is a sin, then tax it like one.
Posted by dave at December 6, 2006 10:01 AM