Re:The Texas electric grid failure was a warm-up
by dragonwriter on Thursday January 20, 2022 @10:28AM
(#30010038)
> Market based capitalism can handle the negative effects of climate change if producers are forced to pay for the negative impacts they produce.
Market-based capitalism could have handled climate change if we had perfect advance information about the infinite horizon adverse effects before it started, and had priced that into actions by pigovian taxes from the beginning of the industrial revolution.
We don't have that information now, and the people against whom such costs would be assessed have incentive to (and actively expend resources) preventing consensus based on the information we do have to prevent the information we do have from being applied that way.
Market-based capitalism could have handled climate change if we had perfect advance information about the infinite horizon adverse effects before it started, and had priced that into actions by pigovian taxes from the beginning of the industrial revolution.
We don't have that information now, and the people against whom such costs would be assessed have incentive to (and actively expend resources) preventing consensus based on the information we do have to prevent the information we do have from being applied that way.