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Arthur Cecil Pigou: externalities and the answer to climate change

Prices contain an immeasurable amount of information. They are the sum of an entire population’s private preferences and an indispensable signal to achieve an efficient allocation of resources. But what about the information they don’t include? Taylor Nugent examines the work of Author Pigou on externalities, and concludes that his eponymous tax is the best way to make prices reflect the costs of climate change.

This article first appeared in Short Supply 2016 – check out the full magazine via the Short Supply tab at the top of this page!

De Beers and Alrosa

Girls’ Best Friends: Generous Unsustainable Responsibility vs. Moderate Sustainable Responsibility

Mining industry has a big impact on many economies. In many cases mining becomes not only a city-forming industry, but even a main pump of budgets of all levels. Mining is one of the most polluting industries in the world, and has a significant number of negative environmental and social externalities Thus, it is one of the most extensively regulated industries. Sustainable development of mining companies is one of the major tasks both for governments and companies themselves.

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