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I assume the parent poster takes issue with the definition of “subsidy” in the paper, which is probably better called “unpriced externalities” in the context. (
by HillRat 6y ago
I assume the parent poster takes issue with the definition of “subsidy” in the paper, which is probably better called “unpriced externalities” in the context. (It’s still IMO a subsidy, but it’s not what we intuitively think of as such, and thus the data point is rather misleading when quoted in the press.)
- streb-lo 6y agoFair enough point. I would argue that you can't really take issue with calling it a subsidy unless you're willing to take issue with the unpriced externalities. If a government refuses to price them in it's effectively the same as directly subsidizing the present generations at expense of future ones.
- jquery 6y agoI agree, however to ensure everyone knows what is being talked about, it should be called unpriced externalities, not “subsidies”. Overloading the word like that, without indicating that is what is happening, is begging for misunderstandings.