False Alarm by Bjorn Lomborg

Author:Bjorn Lomborg [LOMBORG, BJORN]
Language: eng
Format: epub, mobi, pdf
Publisher: Basic Books
Published: 2020-07-14T00:00:00+00:00

CARBON TAXES ARE a good idea, and should be implemented as efficiently as possible. We need to be realistic, however, about what they can and cannot do. A modest, increasing carbon tax can be a very good idea if globally embraced, even if imperfectly delivered. It can ensure that we cut the most damaging of our emissions at low costs. Yet, the impact of optimal policy will be relatively modest, reducing temperature rises from 7.4°F to 6.75°F, or by about 0.65°F. The benefit will be worth around 0.4 percent of GDP.20

Realistically, a smart carbon tax will make an impact, but it can be only a small part of our solution to climate change, simply because going further means enduring more costs from taxes than the avoided costs of climate change.

We should implement a smart, global tax. But if we want to deal with more of the climate damages, a carbon tax is far from enough: we need to look at other approaches.

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