Global warming presents the world with a wide range of externalities. Explain what the most important externalities are and provide two approaches to dealing with them: 1) The first is a plan implemented through governments devising new strategies and laws. 2) The second is a free market approach where free markets arrive at solutions based on the incentives of the parties involved. Evaluate the advantages and disadvantages of both methods and explain which you think would work best. If you think a combination of the two would work best then describe how it would work