Climate change it is happening and at an alarming rate. The climate does change it is cyclic, however climate change is happening now at a much quicker rate. One of the number one culprits to climate change is the burning of fossil fuels and carbon being released into the atmosphere.
The burning of fossil fuels made a huge difference in the generation of electric power. Man was able to generate power for a small amount of money and do great things. Man made products and shipped them all over the world. Capitalism loves burning fossil fuels. I am a huge fan of capitalism but I think the one thing capitalism lacks is the presence of a practical external cost.
See the negative external cost of capitalism in the case of climate change is the advanced rate of climate change. Now one of the best ways to deal with negative external costs is through implementing a pigovian tax system. In our case this would be a carbon tax.
I think this is the only way to go. What does everyone else think? As a matter of fact the carbon tax will be to climate change what the Intermediate Nuclear Forces (INF) Treaty was to the nuclear arms race.
Blog has been viewed (285) times.