Is it the case that better mechanisms for pricing externalities (in general) would be as big a breakthrough as it seems?
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Replying to @patrickc
That is, should there be think tanks, sponsored research positions and institutes, etc., devoted to the problem?
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Replying to @patrickc
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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Replying to @patrickc
But if it's imposed in only some countries, you just shift demand. https://ideas.repec.org/p/ces/ceswps/_2087.html ….pic.twitter.com/KSWpPpu7oN
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Replying to @patrickc
Or, worse, increase carbon emmisions: http://en.wikipedia.org/wiki/Carbon_leakage ….
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Replying to @patrickc
And maybe expectations actually cause present extraction to rise. (http://en.wikipedia.org/wiki/Hotelling's_rule ….)pic.twitter.com/Hu2s8n7zJp
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Replying to @patrickc
(This looks a lot like the Saudi policy on oil prices of late.) http://www.bloomberg.com/news/articles/2015-04-12/saudi-arabia-s-plan-to-extend-the-age-of-oil …
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Replying to @patrickc
So what to do and how to go about it? Only fate of the climate hanging in the balance here.
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Replying to @patrickc
And this is just for CO2. Next up: public transportation vs car usage, urban development questions, antibiotic usage...
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Eric Posner tackles this question: https://www.pennlawreview.com/print/164-U-Pa-L-Rev-93.pdf …pic.twitter.com/7kh7NLCyCB
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