I think in the long term there could be a libertarian solution - the Coase Theorem says that externalities can be resolved with very low transaction costs (that don’t currently exist).
But that’s something libertarians should’ve pitched 40 years ago. Now the only solution we know will help are time-tested Pigouvian taxes.
our handsome investors had a free market solution but then the government said no
Some libertarian
I think in the long term there could be a libertarian solution - the Coase Theorem says that externalities can be resolved with very low transaction costs (that don’t currently exist).
But that’s something libertarians should’ve pitched 40 years ago. Now the only solution we know will help are time-tested Pigouvian taxes.