Economist: THE economic approach to global warming is relatively straightforward. The emission of greenhouse gases generates a negative spillover--global warming--that harms others. Someone driving a car emits carbon dioxide into the atmosphere which contributes to climate change, but because most of the cost of the car's contribution to warming will be felt by people other than the driver, he has an incentive to drive too much. Aggregate that decision to emit too much across all of the world's population,...
URL: http://www.economist.com/blogs/freeexchange/2012/10/hurricane-sandy
Enclosure: http://media.economist.com/sites/default/files/imagecache/original-size/images/2012/10/blogs/free-exchange/sol590.jpg
No comments:
Post a Comment