

15·
17 hours agoA Pigouvian tax is a tax on a market activity that generates negative externalities, that is, costs incurred by third parties. It imposes costs corresponding with the externalities, internalizing those costs to improve Pareto efficiency.
Ideally, the tax is set equal to the external marginal cost of the negative externalities, in order to correct an undesirable or inefficient market outcome (a market failure).

I don’t know whether it ever took hold in the US, but “till” without an apostrophe is valid in the UK and not only is it not a contraction of “until”, it predates it and is the root of the word.