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Glenn Loury on the Cover Story and the Real Story
Conversations with Tyler
Do Markets Exhaust Natural Resources in the Ground?
I'd like to go back and revisit your early career in theoretical economics. See what some of your current thoughts are on those pieces. Are you game? Okay. Yeah, I'm game. Do markets exhaust natural resources in the ground? Too rapidly or too slowly under competitive conditions? What's your current view? Well, in that you haven't internalized the environmental externality, I'd say probably if I had to answer that question too rapidly or tooSlow: Because there'll be too much of the Environmental Externality now,. whereas you should spread it out over time.
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