New Study Admits Even Modest Carbon Tax Would Hurt the Next Two Generations
Date: 27/06/19
Robert P. Murphy, Mises Institute
A new working paper by a group of eminent economists reveals, even a modest carbon tax will cause net damages to us, our kids, and our grandkids.
One of the main themes of my writings on climate change at IER has been warning the public that the “consensus science†they are hearing from the media, pundits, and certain political figures is utterly divorced from the actual published literature, especially when it comes to the economic analysis of government policy. A new, cutting edge working paper from some big-name economists — including Laurence Kotlikoff and Jeffrey Sachs — confirms my point.
In this case, here is the shocking fact that their paper tries to grapple with: Even with a relatively modest carbon tax, the rise in energy prices is so painful that it swamps the benefits of slower climate change, and this is true for our kids and grandkids. It is only when we get to our great-grandchildren that humanity on net would start to actually benefit from even a modest carbon tax introduced today. So the next time you hear someone say, “We need to take vigorous action on the climate for future generations!†you can clarify, “Actually, your proposals would hurt the next two future generations. You want to hurt us, our kids, and our grandkids, in order to help our great-grandkids and beyond — who will all be fantastically rich compared to us, by the way.â€
https://www.thegwpf.com/new-study-admits-even-modest-carbon-tax-would-hurt-the-next-two-generations/
