Economics quote of the day

Economists who have added up all the externalities associated with driving conclude that a tax exceeding $2 a gallon makes sense. By taxing bad things more, we could tax good things less.

– Greg Mankiw, top economic adviser to Mitt Romney, writing in the New York Times earlier this year and advocating for higher gas prices.  Romney is blaming Obama for much smaller price increases.  Apparently, the Etch-a-Sketch wipe can’t affect the Internet.