Based on Middle Ages ...Catholic tradition of buying plenary indulgences..since abolished due to commercialisation & exploitation
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that is not moral hazard as economists term it. It's prioritizing externalities.
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Exactly, I have always wondered about the logic of it all: could someone simplify the idea and teach it?
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producing carbon has some good side-effects. Like emplyment. Crime has not.
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Incorrect. Everyone is complicit.
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Where are the adverse selections associated with achieving pollution reduction at the lowest societal cost?
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