Risky Climate
Carbon Taxes Alone Aren’t Good Climate Policy: Gernot Wagner
To drive down tomorrow’s CO₂ emissions, governments need to subsidize fossil fuel alternatives, too.
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I love taxes.
OK, let me qualify: I love how simple the intended effect of taxes is, if and when it is intended. For climate change that means taxing carbon and watching demand for it go down. Markets will take care of the rest. The goal ought to be to find the right price for each ton of CO₂ and get out of the way. Economics 101.