Secondary Markets
19 March 2007 at 12:49 pm Peter G. Klein 3 comments
| Peter Klein |
Bet these guys prefer cap-and-trade to Pigouvian taxes:
I think this was a case of command and control, however.
Speaking of secondary markets, my longtime associate Dwight Lee proposes setting up a market for citizenships. “America’s homeless and panhandlers . . . are actually quite wealthy. Almost all own an asset — their United States citizenship — that is worth several hundred thousand dollars. The problem is that they are denied the right to sell that asset.” Dwight has a unique talent for spotting potential gains from trade where others fear to tread. . . .
Entry filed under: - Klein -, Institutions.
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Organizations and Markets 
1.
Dirk Friedrich | 20 March 2007 at 11:17 am
The estimated price of American citizenship seems to me to be vastly overrated, because American citizenship has a huge minus attached to it: the US collects its taxes from every citizen no matter where you are. Most other western democracies collect their taxes only from those citizens, who stay on their territory.
2.
Marcin Tustin | 21 March 2007 at 10:27 am
Yes, but ex hypothesi you be able to get rid of your citizenship.
3.
Jessica Loren | 22 March 2007 at 1:45 am
No, that is a wrong idea – their SSNs have already been sold (illegaly). Here is another market: How much would each U.S. citizen pay right now to close down immigration? I bet there is a HUGE market there. Assuming that we start the price at $10 per denied person, How high would it go?