Make the clean stuff cheap (with Eric Beinhocker & Doyne Farmer)
Pitchfork Economics with Nick Hanauer
00:00
Is There a Carbon Tax for Climate Change?
Climate change is what economists call an externality, a form of pollution. The text book economics answer to that is to put a price on it and create a market where you can trade permits to pollute. We've been trying to implement carbon prices around the world for the last 30 years but only about zero point eight % of global omissions or under any kind of effective carbon tax. And even if they do, like europe has had its omissions trade scheme for over a decade, now, what tends to happen is the lobbyists get hold of it, and they just insure the carbon price is so low that it has almost no effect.
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