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  • Writer's pictureTom Mast

Economists’ Statement on Carbon Dividends – and Moreper the WSJ two years ago

Updated: Nov 2, 2022

The Statement can be read at the link above in five minutes. It lays out beautifully and quite succinctly the mechanisms for a climate change agenda that will work! It was signed by a group including 28 Nobel Laureate Economists, 4 Former Chairs of the Federal Reserve, and 15 Former Chairs of the Council of Economic Advisers.

Summary of the Statement’s key points:

  • The need for a carbon tax to urge the marketplace to incentivize us producers of carbon dioxide toward a low-carbon future and to stimulate innovation. #climatechange

  • Steady increases in the tax, but being revenue-neutral. Taxes collected will be distributed to the people to avoid growing the government, for fairness, and to stimulate their acceptance.

  • Phasing out of carbon laws and regulations, thereby eliminating many sources of dissatisfaction and poor efficiencies. The pricing approach will provide more certainty to industries for their long-term planning and investment.

  • A border carbon adjustment system to balance our increased costs for climate change with those of countries that have not yet instituted anti-carbon dioxide measures.

Our present “approach” is not working well, neither in terms of making sufficient progress in the fight against carbon emissions nor in getting everyone’s participation.


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