"Innovators deciding on how much to invest in R&D will generally spend less money than is socially optimal, because their decisions typically do not include the possibility that the result will create shoulders for others to stand on. That, too, calls for #subsidies".
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https://gwagner.com/tax-subsidize/ by Gernot Wagner (npub13xz…qgua) #taxes #carbonPricing #greenCapitalism #innovation #EU #inflation #renewables #energy #growth #spillovers #transition