Tobacco

Comedian Simon Evans continues his series about the economics of some of the goods - or bads - we are addicted to.

If you crave your daily coffee, can't get by without a cigarette, feel that mid-afternoon slump without your sugar-fix, or can't face an evening without a glass of wine, you are definitely not alone.

But have you ever thought about the economics that has made your addiction possible? Who does it profit? And would you want to make some canny investments that take advantage of our human weaknesses?

This time it's tobacco. It's been called the single biggest avoidable cause of death in the world today yet it has remained an investment goldmine, with a single pound invested in tobacco stocks in 1900 now being worth over 6 million pounds.

Simon speaks to Robert West, Professor of Health Psychology and Director of Tobacco Studios at University College London about current global trends in smoking.

He's also joined by economics guru, More Or Less host Tim Harford and the Queen of investment know-how, Merryn Somerset-Webb, as he walks us around the economics of these very familiar commodities and pokes fun at our relationship with them.

Written by Simon Evans, Benjamin Partridge and Andy Wolton.

Producer: Claire Jones

First broadcast on BBC Radio 4 in July 2015.