Potomac Fever is the blog of the Hamilton College Semester in Washington Program.
It's weird to me that externalities are recognized across the board by economists, but are not taken into account in our political debate. Yes, oil, coal and natural gas are cheaper than renewables in actual price, but if you take into account their damage on the environment, humans living in that environment, and their foreign policy implications, I doubt this would be the case. Then, when somebody comes along and wants the price of these fossil fuels to reflect their actual cost (carbon tax, cap and trade) they are communists trying to take over the free market. What I'd like to know is how Republicans view externalities, and whether they think they should be addressed at all.
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