Richard Thaler
👤 SpeakerVoice Profile Active
This person's voice can be automatically recognized across podcast episodes using AI voice matching.
Appearances Over Time
Podcast Appearances
You're not allowed to have – we can't have cars that get less than such and such gas mileage.
Which we've done.
Right.
So we have lots of regulations.
We essentially don't have a carbon tax.
No, so we're almost there.
You are not.
You're not.
So what economists would say is we don't need all those rules and regulations.
Just set the price right.
But doesn't the market set the price?
Isn't that free markets?
No, the carbon tax will automatically raise the price of a Hummer
of operating a Hummer because it only gets eight miles to the gallon compared to some EV.
So we don't have to regulate.
All we have to do is get the price right.
That's standard economics.
It's just setting the price so that you have the incentive to act in a way that's best for society.
Yes, it does.
Hold on here.