What a shame that Hayek's insights about the value of decentralized decision-making have not been applied in the form of Pigou taxes and subsidies to the problem of negative and positive externalities, above all the net emission ofCO2 into the atmosphere.
What a shame that Hayek's insights about the value of decentralized decision-making have not been applied in the form of Pigou taxes and subsidies to the problem of negative and positive externalities, above all the net emission ofCO2 into the atmosphere.