Pigouvian taxes
What to do when the interests of individuals and society do not coincide? The fourth in our series
LOUD conversation in a train carriage that makes concentration impossible for fellow-passengers. A farmer spraying weedkiller that destroys his neighbour’s crop. Motorists whose idling cars spew fumes into the air, polluting the atmosphere for everyone. Such behaviour might be considered thoughtless, anti-social or even immoral. For economists these spillovers are a problem to be solved.
This article appeared in the Schools brief section of the print edition under the headline “The lives of others”
From the August 19th 2017 edition
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