The CO2 tax has a number of advantages over pure emissions trading systems. In particular, if the revenues from the tax are used to reduce other taxes, the policy might actually benefit the economy overall, and the tax also avoids problems that might be caused by permit price volatility under an emissions trading regime.
". . . for almost a century the basic principles on which this civilization was built have been falling into increasing disregard and oblivion." -- Hayek
Wednesday, April 11, 2007
Tax or Cap-Trade?
Ian Parry discusses economic policy with respect to carbon emissions:
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