Syed Athar Ali Shah
Vaping technology could become an apt alternative to smoking within the next 30 years to ‘extend’ billions of lives but excessive and large regulations have posed a serious challenge to this innovative phenomenon, reveals a key research document. It augurs well for the smokers, vaping is considered 95 per cent safer than smoking and it enables the smokers to “live longer, healthier, more productive lives,” says a new working paper co-authored by Julian Morris, Vice President of Research at Reason Foundation and Dr Amir Ullah Khan, noted Indian economist.
The paper explores The Vapour Revolution, showing how vape technologies have developed, their potential to improve lives – and the policy implications. The document, however, shows particular concern about the possibility that regulations advocated by the WHO could kill this technology and thereby slow down or halt this revolution. “Rapid innovation, driven by competition in a relatively unregulated market, has resulted in vape products that are attracting millions of smokers to switch. Economies also benefit from increased economic activity and lower healthcare costs,” the research document reads.
According to working paper, in less than ten years, innovative vape products have seen a dramatic increase in quality, efficacy and safety, while prices have fallen. Already, millions of smokers have switched to vaping which now has potential to prevent over a billion smoking-related deaths and extending life of smokers. in 30 years. But this innovation could potentially be thwarted by regulations. “Excessively restrictive regulation of vape products will drive up costs, reduce choice, and undermine competition and innovation,” notes working paper.