Economists' "One-Page" Climate Plans Don't Work
When social and environmental effects are taken into account, carbon emissions carry a heavy economic cost. But as it stands, these costs are what economists call an 'externality,' because they are not accounted for in carbon-related market transactions. By imposing a carbon tax, the effects of climate change are accounted for and public welfare increases down the line. But when the benefits are largely intangible, or occur elsewhere in the world, it is challenging to pass a private tax in the service of public good. In this analysis, Jesse Jenkins dives into the details, highlighting the political economic barriers to carbon taxation.
by Jesse Jenkins
http://thebreakthrough.org/index.php/programs/energy-and-climate/real-world-barriers-to-carbon-pricing
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