We analyze environmental policy in a model where some consumers (dubbed green) derive warm glow from buying good of higher quality, and green firms differentiate products on their quality to enjoy market power. For any given pollution level, emission taxes turn out be less cost-effective than an standard because taxation always induces wedge between the qualities products. By stark contrast, pr...

the later capitalism, along with increasing the productions, raising the level of general welfare, spreading possibilities and opportunities, and the more democratizing of society, brings together the most control and the most liberty has ever seen in the history. by the consumerism it provides fluid societies, with firm political systems. in this article by introducing consumerism as a system ...