The benefits of using prizes to drive alternative fuel research
An article on the benefits of using economic prizes instead of subsidies as incentives for alternative fuel research appeared in Monday’s edition of National Review Online, an extremely right-wing publication.
Besides the fact that this is a good idea that economists have been increasingly talking about over the past few years, there are a couple additional take-away points:
- There are many people on the right who are sincerely interested in environmental progress and who are thinking seriously about the best ways to move forward.
- Being able to converse relatively proficiently about economics and market principles, not just acknowledgment of the problems, is the best way to create a bipartisan consensus on policy. People on the right will listen to these and often agree.