Market mechanisms for regulation: Cap-and-trade and Obamacare

Jeffrey Frankel, 27 February 2014



Markets can fail. But market mechanisms are often the best way for governments to address such failures. This has been demonstrated in areas from air pollution, to traffic congestion, to spectrum allocation, to cigarette consumption.

Topics: Environment, Politics and economics
Tags: Cap-and-trade, environment, EU ETS, global warming, healthcare, market-based mechanisms, Obamacare, pollution, regulation

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