> Jevons observed that England's consumption of coal soared after James Watt introduced the Watt steam engine, which greatly improved the efficiency of the coal-fired steam engine from Thomas Newcomen's earlier design.
This is good, I believe efficient use of resources is key to a better standard of living.
But all externalities should be priced-in: the cost of pollution should be paid to the people suffering from it.
This is good, I believe efficient use of resources is key to a better standard of living.
But all externalities should be priced-in: the cost of pollution should be paid to the people suffering from it.