Pigovian tax
n.— «Even libertarians recognize that if one person’s activities impose costs on society as a whole (in this instance, by contributing to global warming), then that person ought to compensate society. This is what’s known as a Pigovian tax, named after an English economist of the early 20th century named Arthur Pigou.» —“The GOP Triangulates” by Timothy Noah Slate Nov. 9, 2006. (source: Double-Tongued Dictionary)
Further reading
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