Tuesday, October 31, 2006

Larry Summers in the Pigou Club

I ran into Larry Summers at a party recently, and he asked to be inducted into the Pigou Club.

Larry reminded me of an article of his in the November 30, 1987 issue of The New Republic, called "A Few Good Taxes," in which he wrote:

Raising gasoline taxes would encourage energy conservation....It would also force motorists to pay more of the congestion, maintainance, and accident costs they impose by driving.
Welcome to the Club, Larry. Your secret decoder ring is in the mail.

On a related matter, membership in our facebook chapter is now up to 369.