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Raghuram Rajan: Climate Action and Continued Globalization Joined at the Hip (2022 Per Jacobsson Lecture)

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Five Ways to Reduce Uncertainty and to Keep Minimum Level of Dialogue Going

We need the world to remain connected so that a minimum level of dialogue flows, investment takes place. I'm very firmly a believer in the bicycle theory of reform: if you stop, you fall off. What is the new area which we haven't reformed? Services. Let's find ways to liberalize services to move forward. Very best, it will create all sorts of new opportunities for us. We're talking about global carbon tax. All economists say it makes sense. But it's a one-size-fits-all solution. It's also unfair. Why does Tanzania have to implement a global carbon tax at the same level as the United States? For Tanzania, I met 0.

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