More reading for the AnCap class, this one an unpublished paper by Dr. Murphy regarding how the market would react if global warming were 100% true and real including how this could apply to any large externality.
I'd actually say the fact that the free market seems to be trying extremely hard to discredit the scientific consensus on global warming may be the single biggest strike against it.
Or at least, it's my impression that the free market is the guilty party here. I'm curious if you think it's due to state-sanctioned monopolies... there's probably a decent argument for it.
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