This paper is concerned with tax policies designed to obtain an improved competitive allocation in the presence of consumption externalities. It is known that the full optimum can, in general, be ...

Consumption, production, and investment decisions of individuals, households, and firms often affect people not directly involved in the transactions. Sometimes these indirect effects are tiny. But ...

Globalisation creates externalities of planetary scale that bring with them systemic breakdown. A new world world free of externalities requires economic democracy federated to the global level. As ...

There are differences between private returns or costs and the costs or returns to society as a whole Consumption, production, and investment decisions of individuals, households, and firms often ...