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Examples
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Which brings us back to a targeted pigovian taxes (ie “sin” or “vice” taxes), which are just as simple and very transparent.
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If the productive-consumer classes are to be tapped with Keynes and capped with pigovian carbon taxes a la Manciw will any resulting social environmental economic gains matter one whit when Iceland decides to achoo?
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The problem is that to the extent that the wealth taken in Pigovian taxes is destroyed (rather than invested or saved for remediation, or even just randomly distributed), even optimal pigovian taxes do not improve world wealth.
The Pigou Club's Powerful Members, Arnold Kling | EconLog | Library of Economics and Liberty 2009
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Unfortunately, the governments Ron is talking about, are largely wasting the resources generated by their rear-end pigovian strategies, so while these actions may have a positive effect on the oil markets, it's probably well outweighed by the damage these policies are doing to their oil industry and overall economies.
The Pigou Club's Powerful Members, Arnold Kling | EconLog | Library of Economics and Liberty 2009
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If a relatively less socialist or plutocratic government (such as the US) were to collect oil or gas taxes, the dead-weight loss would be smaller, probably leaving the pigovian effect big enough to justify them.
The Pigou Club's Powerful Members, Arnold Kling | EconLog | Library of Economics and Liberty 2009
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He wants to institute a pigovian tax on carbon emissions to correct for negative externalities, like that other well known communist Greg Mankiw, oh wait, he was Bush's CEA Chair.
Archive 2008-10-01 xtra 2008
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If the productive-consumer classes are to be tapped with Keynes and capped with pigovian carbon taxes a la Manciw will any resulting social environmental economic gains matter one whit when Iceland decides to achoo?
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It imposes pigovian taxes on the balance-of-trade externalities (again, see "The Myth of Comparative Advantage" blog).
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He wants to institute a pigovian tax on carbon emissions to correct for negative externalities, like that other well known communist Greg Mankiw, oh wait, he was Bush's CEA Chair.
Is Obama a Socialist? xtra 2008
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I think while this fee, pigovian tax if you will, will clearly provide a disincentive for reckless driving.
Archive 2007-06-01 xtra 2007
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