12.10.04

CARNIVAL CALL. The latest Carnival of the Capitalists visits Business Pundit, who has also discovered a novel Pigouvian tax. (I once had a colleague who liked to caution economists about conflating an "externality" with "something I dislike" -- something many policy wonks seem prone to do. This colleague, as a way of making the point, suggested that loose thinking about externality could transform the Holocaust into a steep Pigouvian tax. The latter post I linked to suggested he had a point.)

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