Business Services Industry
The economics of carrots and sticks.
Australasian Business Intelligence, January, 2007
Byline: Martin A Sullivan
Jan 15, 2007 (Tax Notes International - ABIX via COMTEX) -- Arthur Pigou, who was a professor of political economy at Cambridge University from 1908 to 1943, is held in high regard in tax circles. His view that the best way to improve markets was by taxing negative externalities and subsidising positive ones. An externality is defined as a cost or benefit of a product that is not immediately obvious to users of the product. In the case of energy users, an example of a negative externality is pollution. If Pigou's views were applied by US legislators, a carbon tax to reduce global warming would be adopted, as would a tax on sulphur dioxide and other conventional pollutants.
Publication Date: 27 November 2006...
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