Politics and the Economics of the Carbon Tax

 Economists should not let the allure of an optimal tax create an impression that carbon taxation will benefit the economy. (photo/Dori)

Economists should not let the allure of an optimal tax create an impression that carbon taxation will benefit the economy. (photo/Dori)

A carbon tax involves some good economics and is probably the best way to address global warming. And yet I think that adopting the tax represents bad policy. My reservations involve the politics of policy implementation as examined by Nobel prize-winning economist James Buchanan.

Before getting to my concerns, let’s consider two other arguments against…

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