utgibbs
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Is that what he meant by market failure? I thought that he may have been referring to the market failing to capture AGW externalities.
I like to call it "Global Heating" to emphasize the planet isn't hotting up on its own. It was the big externality I was thinking of. However, we shouldn't overlook a host of others.
Moreover, I can't claim to have said it first, the former Chief at the World Bank, Nicolas Stern, did.