New paper by Richard Tol – Targets for global climate policy: An Overview

Watts Up With That?

I thought this paper was interesting, and it was (as part of a Twitter exchange) sent to me by request (thanks to Both Richard Tol and Bjørn Lomborg). I found figure 8 (shown below as part of the preview on Science Direct) to be interesting because it shows a positive impact of warming up to 2.0C and a negative impact afterwards, suggesting that some warming is beneficial, but a lot of warming is not. All things in moderation I suppose. – Anthony.

Abstract

A survey of the economic impact of climate change and the marginal damage costs shows that carbon dioxide emissions are a negative externality. The estimated Pigou tax and its growth rate are too low to justify the climate policy targets set by political leaders. A lower discount rate or greater concern for the global distribution of income would justify more stringent climate policy, but would imply an…

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About Jim Rose

Utopia - you are standing in it promotes a classical liberal view of the world and champion the mass flourishing of humanity through capitalism and the rule of law. The origin of the blog is explained in the first blog post at https://utopiayouarestandinginit.wordpress.com/2014/03/12/why-call-my-blog-utopia-you-are-standing-in-it/

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