Consider the problem of climate change: a centralised regulatory approach here would be a catastrophe, lashing out at easy political targets such as SUVs or cheap airline travel. But pure laissez-faire will not save the planet either. A predictable tax on carbon would unleash a lot of world-saving creativity at minimum cost.By the way, the Club now has its own Wikipedia entry.
Friday, December 8, 2006
Tim Harford signs up
Tim Harford, author of "The Undercover Economist" and a columnist for the Financial Times, joins the Pigou Club:
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