That is, should there be think tanks, sponsored research positions and institutes, etc., devoted to the problem?
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Even with carbon taxes (the most obvious case?), there's a lot of subtlety. Mankiw tried to get the ball rolling: http://en.wikipedia.org/wiki/Pigou_Club
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@patrickc if done completely wouldn’t it essentially eliminate externalities? -
@patrickc (by making them internal via pricing) - 4 more replies
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@patrickc do you generally not like the mechanism of taxes / subsidies, or just think they need to be handled more accurately? -
@jaltma Latter. How should we optimally price them? How many should we establish? How do we calibrate? Systematize! - 2 more replies
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@RugerM3 Is your claim that CO2 levels aren't causal in global mean temperature or that temperature increases aren't problematic?
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@patrickc As true cost is often realized decades later, one model could be to hold all businesses responsible, carry externality insurance -
@patrickc let the actuaries decide what they think the external risk is, and price it into the market - 6 more replies
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@patrickc@pmarca Yes, and it would drive a huge amount of#innovation.Thanks. Twitter will use this to make your timeline better. UndoUndo
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