Alcoholic beverages have been around for more than 8000 years and despite the World Health Organisation claiming that the global consumption of alcohol has remained roughly the same since 1990, the main groups who do drink are now drinking a lot more heavily. This is shown in the article, Alcohol pricing: Mulled Whines et al. (2013) where it explains how binge drinking was once a rarity in Spain as alcoholic beverages were only consumed mildly with food. However, nowadays during the night at the Plaza de Espana in central Madrid it is now flocked with many groups of people who have been drinking on a binge which results to vomiting and mess on the streets. Pitts (2010) explains that the social benefits associated with drinking alcoholic beverages include that it ‘produces a sense of relaxation, wellbeing and even euphoria in individuals, which enhances their enjoyment of whatever activity they are participating in’, also it can help ease stress and make you more confident in your actions. However, alcohol also has social costs as The Economist et al. (2013) The demand for alcoholic beverages as a whole is inelastic which can be proved from the price elasticity of demand formula. The price elasticity of demand is explained by Hubbard et al. (2012) as ‘the responsiveness of the quantity demanded to a change in price’ and can be calculated from the following formula: Price elasticity of demand = Percentage change in quantity demanded/percentage change in price. From the statistics given by The Economist et al. (2013) of how a 10% price rise in prices would decrease consumption by around 5%, the equation would be: Price elasticity of demand = -5%/10% which means the price elasticity of demand would equal -0.5. Due to the fact demand ... ... middle of paper ... ... name. However, there is a point that binge drinking would have social costs to society including sickness and violence due to the alcohol intake. As we have private costs and benefits to alcohol (For example being able to enjoy yourselves more) as well, we are seen to be consuming too much of it which creates a negative externality as shown in the diagram below. As the supply line shifts to S + external costs, it is now seen that the social equilibrium is at price Pf. If the policy makers make the price wall at Pf as well then this shows it is at a social optimal price thus, reducing the surplus or dead weight loss and in fact even solves the problem of the social deadweight loss in the beginning. This lack of deadweight loss will make policy makers opt towards this price floor as opposed to a tax where there is deadweight loss as discussed earlier in figure 1.0.
Alcohol is a central nervous system depressant it has a huge impact on the lives of a drinker . In small quantities, alcohol results in a mild euphoria and usually removes inhibitions, and is relatively harmless. However, when used in excess, it has the power to change many lives in many ways. Alcohol causes a lot of trouble in a lot of peoples lives not just in the drinkers life. . Some ways it effects peoples lives include alcohol poisoning and alcohol-related traffic fatalities by individuals who are problem drinkers but who are not alcohol dependent. Because alcohol has so many negative effects on a person's mental and physical health, people should avoid the consumption of it altogether.
Where I don’t agree with the reading is that people will continue to binge no matter what. People are smart in many ways and if you show them potential outcomes that drinking can lead them to then they are less likely to continue down this downward spiral that could have life lasting effects on the rest of their lives and even there love ones
The Liquor Control Board of Ontario (LCBO) was established in 1927 by Lieutenant Governor William Donald Ross. It maintains the production, distribution and sale of alcoholic beverages in Ontario. It became a Crown corporation in 1975. It operates under the authority of the Liquor Control Act which came into act in 1916. The LCBO is one of the world's largest buyers and retailers of beverage alcohol. Its target customers are particular consumers, bars and restaurants.
...vity to rise. Today, the use and abuse of alcohol continues to grow in the United States.
In the 19th century alcohol consumption rocketed and Americans drank “more than five gallons of pure alcohol per person per year“ (Carlson par. 20). Historian W.J. Rorabaugh in his 1979 book, The Alcoholic Republic, wrote “Americans drank at home and abroad, alone and together, at work and at play. They drank before meals, with meals and after meals. They drank while working in the fields and while traveling across half a continent." (qtd. in Carlson par. 20).
Alcohol plays a major role in society today. It is constantly being in our minds through advertisements, whether its commercials or
After the American Revolution, drinking was on the rise. To combat this, a number of societies were organized as part of a new Temperance movement which attempted to dissuade people from becoming intoxicated. At first, these organizations pushed moderation, but after several decades, the movement's focus changed to complete prohibition of alcohol consumption. (Brayton)
Most people point to wars, Presidents or the economy when asked to describe the history of the United States, but what about alcohol. Social history in general has always taken a back seat to political and economic history, mostly because many aspects of social history are not exactly bright spots from the past. Alcohol, for example, is actually a much bigger aspect of our history than one may expect. As a matter of fact, early America was centered around drinking as a kind of social event. William Rorabaugh’s book Alcoholic Republic outlines how prevalent drinking really was during the years after the Revolutionary War. Rorabaugh argues that post-colonial Americans should be considered alcoholics. However, the evidence Rorabaugh uses
Solving the issue of whether taxes should be raised on alcoholic beverages is very difficult. I believe that volume taxes should be raised to match the rate of inflation. However, more research needs to be conducted before choosing to increase taxes by a rate that would deter responsible
One of the effects of alcoholism are economical effects. In today’s world alcohol does not come cheap and can cost you whole lot money, but If you drink excessively it can cost you a lot more money. In the article, “Social and Economic Problems Linked to Alcohol Use,” points out “Apart from money spent on drinks, heavy drinkers may suffer other economic problems such as lower wages and lost employment opportunities, increased medical and legal expenses, and decreased eli...
Over six years, beer consumption has declined by 2.3% due to health concerns and other spirit based drinks. Light beer sales category in the US has growing at compound rate
This will shift the MPC curve to the left. The supply will shift to the left, raising the prices to P Tax, and reducing the amount consumed to QTAX. This tax covers only a proportion of the externality costs. Despite this, the welfare triangle is present but has reduced significantly. In sum, prices have increased to nearly the optimal market price, and quantity has decreased to nearly the optimal quantity.
The demand from liquor retailing is the most essential driver for the industry as it contributes the largest proportion of industry revenue. This includes demand from giants store like Dan Murphy’s, Liquorland, and also niche retailers from inner and regional areas. Next, the demand from pubs, bars, and nightclubs is the second-largest source of industry revenue (IBISWORLD, 2015). The demand from pubs, bars, and nightclubs is expecting to grow in 2016 despite of the fluctuations in consumer confidence that affect pubs and bars more than the liquor
Alcohol has been in the world for many centuries and has become a pain but also somewhat of a solution to society. It can be viewed as something to be a social gathering that brings friends together or it can be taking as destruction to someone. Over the years alcohol has played many roles in the world but it plays an even bigger role in substance abuse. Doctors have made several points that it is okay to have a drink every now and again but people need to realize when one drink has become too many. The ideal of having a drink with friends or going out and having an occasional drink is acceptable; However, is it still acceptable when a person find their selves having a drink first thing in the morning or runs to a drink to solve their people.
...tion. It has not only short-term effects but long-term ones as well. Alcohol can lead to serious problems with the central nervous system, blood, muscles, the liver, and more. Underage drinking is a huge problem that needs to be taken seriously and no one should ever feel pressured into drinking in order to look cool or fit in. One could only wish that more people were educated on the issue and maybe it would be taken more seriously than it is right now.