1min chapter

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

IMF Podcasts

CHAPTER

We Will Ban All Coal Emissions

The US is committed to already making those hundred billion in payments. But interestingly, this allocates responsibility to other countries. What we need is a system of allocating property rights in emissions. This does it. It tells you we have a common budget. And you pay until you stop eating into the budget. So less is more. Can we in this world of sanctions happening left, right and center preserve some global interaction? Can we keep some trade going in perhaps essentials? Food, medicines, energy.

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