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Milton Friedman on the free-market case for taxing pollution

republicEnCited 3× on HN, 2022-2026
YouTube
76K views · 9 years ago · interview · evergreen

A two-minute clip from a 1979 Phil Donahue interview in which Milton Friedman makes the free-market case for taxing pollution. He treats pollution as an externality that can be given a price.

HN commenters use it to show that even the best-known free-market economist supported putting a price on pollution.

Microeconomics & behavioral economicsClimate policy, solutions & debate#miltonfriedman#externalities#pollutiontax#freemarkets#economics

3 comments from Hacker News

@throw0101a2026 · in “40% of lost calories globally are from beef, needing 33 cal of feed per 1 cal”

> Agreed. The market should decide if beef consumption is viable. Until The Market™, especially in the US, starts dealing with externalities (like climate change), it should not. Something like carbon pricing (per Greenspan and Volcker): * link * link Even Mr. Free Market himself, Milton Friedman, thought a price on pollution was a good idea: * ▶ this video

CitesView on HN
@throw0101c2026 · in “No accountability: Bills would ban liability lawsuits for climate change”

Even Mr. Free Market™ himself, Milton Friedman, didn't have a problem with putting a price on pollution as it is a form of externality: * ▶ this video Greenspan, Volcker, Bernanke, Yellen, etc , also endorsed a price on carbon (which revenue would be refunded to people): * link

CitesView on HN
@olalonde2022 · in “Polluted air cuts global life expectancy by two years”

AFAIK, Mises.org is generally well regarded among libertarians. Libertarians generally argue that externalities should either be illegal or taxed, when there are no other practical solutions. Here's a video of Milton Friedman on the topic: ▶ this video

CitesView on HN
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