Richard Thaler
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Appearances Over Time
Podcast Appearances
Economists know about externalities.
And now here's the point I want to make.
We don't have carbon taxes.
Why?
Because, and you started with this, so you got to the answer right away.
You got to this because people hate taxes.
They hate high prices.
So what do we have?
We have lots of subsidies.
That's right.
But even in high gasoline tax states, the taxes on emissions are still way too low compared to what they should be.
Okay, so I did not anticipate that my role here was going to be as the defender of neoclassical economics, but here I am.
Oh, we're here, baby.
I am here.
All right.
And, you know, my economist friends will be proud that I'm defending them.
All right, beautiful.
So-
Look, there's an economist named Arthur Pigou.
Yeah.