And also Professor you've been critical about the idea that market alone through invisible hand will take care of everything. Right.
教授,您一直批评市场通过看不见的手独自解决一切的想法。对。
So can you elaborate on your concerns about that and what role do you think government should play in market economy?
那么您能详细阐述一下您对此的担忧吗?您认为政府在市场经济中应该扮演什么角色?
Markets are powerful. They're a great way of providing motivation, which is the key to mechanism design but there are some cases where markets don't work.
市场是强大的。它们是提供激励的极好方式,这是机制设计的关键,但在某些情况下市场不起作用。
And these are... I think the leading example are cases where there are externalities to markets.
我认为最主要的例子是市场存在外部性的情况。
When an economist uses the term externality, he's referring to something that we do that affects others but that we have no incentive to change.
当经济学家使用外部性一词时,他指的是我们所做的事情会影响他人,但我们没有动力去改变。
For example, we all know that greenhouse gases like carbon dioxide are causing climate change.
例如,我们都知道二氧化碳等温室气体正在导致气候变化。
But most companies that emit these greenhouse gases or most consumers who emit these greenhouse gases say by driving their gasoline powered cars don't have an incentive to stop emitting the greenhouse gases.
但大多数排放这些温室气体的公司或大多数排放这些温室气体的消费者表示,他们驾驶汽油驱动的汽车,并没有停止排放温室气体。
How do we deal with this? Well it's essential for the government to get involved.
我们该如何处理这个问题?政府的参与至关重要。
So which means that for the market to function properly, it needs to join efforts by the government as well as by the market itself.
这意味着,为了使市场正常运转,需要政府和市场本身共同努力。
That's right. In effect the government has to create a market for carbon emissions.
没错。实际上,政府必须创建一个碳排放市场。
The governments, by creating a cap and trade system for example, is going to create a market for carbon emission permits.
例如,政府通过建立限额交易制度,将创建一个碳排放许可证市场。