emission rights

[Jester]

We produce and consume, but I think what eppie and I are talking about are wasteful production and consumption. Growth for the sake of growth, and getting the stock holders their 10% ROI.

Surely a libertarian should be sympathetic to the argument that people get to spend their money how they please, right? If a producer and a consumer agree upon a price, why shouldn't they trade? And if investors make money from investing in that process, isn't that good?

Now, one answer, maybe the only good answer, is - externalities. There are costs (pollution) that none of the producer, the consumer, nor the investor are paying. But, so long as the externalities are controlled, why not let people make and buy whatever they want?

That's why I love Pigovian taxes. People get to choose how to spend their money - but if they want to spend it in ways that cost society, they pay accordingly.

-Jester