class of Sep 21, 2015

HOMEWORK:
Please work on 1984 and the handout – I’ll get back to you on that in October!
Further homework: p. 84 / 3 & p. 91 “Watch your language”
p. 88 / ex 3
Key sentences:
§1: Economists are… enthusiastic environmentalists.
§2: upper-middle class Americans are sentimental about protecting the environment as long as it does not impinge on their lifestyle; standard economic theory predisposes… to favor strong environmental protection.
§3: everyone knows that economists… believe that whatever free markets do must be right.
§5: pollution taxes will reduce GDP ; people will not work as hard as they would have without the tax.
§6: taxes on pollution could be used to reduce other taxes
§7: on balance consensus is that pollution tax would be more likely to reduce GDP
§8: getting the price of the environment right means a rise in … nonmarket goods like clean air and leisure time.
§9: can 2,500 economists be wrong?
Summary…. please finish the summary at home.

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