Mises Wire
Author:
Joseph Solis-Mullen
Online Publish Date:
A familiar question in a standard microeconomics graduate seminar goes something like this: a Pigouvian tax is not market distorting. True or false? The expected answer: true. True? Any fiscal intervention being definitionally a distortion of how a given market would otherwise operate, how can this be? Spoiler alert: it boils down to little more