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What Do You Do About Externalities?

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Know someone who might like Capital Gains? Use the referral program to gain access to my database of book reviews (1), an invite to the Capital Gains Discord (2), stickers (10), and a mug (25). Scroll to the bottom of the email version of this edition or subscribe to get your referral link! From an economic perspective, other people are generally quite alright; we tend to specialize in tasks for which we have a comparative advantage, which allows all of us to enjoy a higher standard of living (thanks to the miracle of the division of labor). But "Hell is other people" is more right than Sartre probably realized: these “other people” also insist on doing things that produce negative externalities they're oblivious or indifferent to—anything from chewing loudly to exhaling secondhand smoke to accidentally dumping toxic waste into drinking water or polluting the Internet with reams of redundant AI-generated content. Externalities enormously complicate economic models because they exist wh

What Do You Do About Externalities? 0 0 Capital Gains Posts What Do You Do About Externalities? What Do You Do About Externalities? Tax Like Pigou, Litigate Like Coase, Ban Them, or Just Ignore Them? Byrne Hobart November 29th, 2023 Sponsored by Know someone who might like Capital Gains? Use the referral program to gain access to my database of book reviews (1), an invite to the Capital Gains Discord (2), stickers (10), and a mug (25). Scroll to the bottom of the email version of this edition or subscribe to get your referral link! From an economic perspective, other people are generally quite

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