This New York Times article is a jewel for IB Economics candidates, both HL and SL as it is short and sweet and is full of examples one can use in any essay on solutions (discussion; evaluation) of negative production externalities.
It provides examples of 'market based solutions', i.e. solutions (or better policy responses) whereby the incentive function of price changes are still the driving force of containing pollution. Real world examples of both 'cap and trade' systems in the world and carbon taxes are presented with a short discussion of their effectiveness.
A must to read and take down a couple of notes for all IB Economics candidates!
Proof that a Price on Carbon Works
A must to read and take down a couple of notes for all IB Economics candidates!
Proof that a Price on Carbon Works
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