ECONOMICS IN TWO LESSONS
Why Markets Work So Well, and Why They Can Fail So Badly
For example, every time we drive a car, fly in a plane, or flick a light switch, we contribute to global warming. However, in the absence of a price on carbon emissions, the costs of our actions are borne by everyone else. In such cases, he advocates a mixture of market forces and government policy—"two-lesson economics"—as the best means to address the issues.
Princeton University Press
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