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corrective taxation and to regulation. …
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Law can be viewed as a body of rules and legal sanctions that channel behavior in socially desirable directions - for example, by encouraging individuals to take proper precautions to prevent accidents or by discouraging competitors from colluding to raise prices. The incentives created by the...
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Law can be viewed as a body of rules and legal sanctions that channel behavior in socially desirable directions - for example, by encouraging individuals to take proper precautions to prevent accidents or by discouraging competitors from colluding to raise prices. The incentives created by the...
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The traditional view of economists has been that corrective taxes are superior to direct" regulation of harmful … externalities when the state's information about control costs is incomplete. " In recent years, however, many economists seem to … have adopted the view that either corrective" taxes or quantity regulation could be superior to the other. One argument for …
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