The Wall Street Journal opined on the issue of climate change earlier this month, and what they said got my attention. The topic of their Nov. 2 editorial, “Climate Non-Conformity”,¯ was a study on the economic impact of climate change, called the Stern Report (so named for the report’s author, former World Bank chief economist Nicholas Stern). I have not read the full report, and I think the Journal’s opinion writers have too often been glibly rejectionist about climate change, but some of what they had to say sounds spot on to me:
“Some of the Stern review’s recommendations, such as carbon trading rights, are also worth debating. But most of its proposals are merely openings for government to expand its role in allocating investment, raising taxes and otherwise controlling economic decisions. Socialism was supposed to have died with the Soviet Union, but it is making a comeback under the guise of coping with global warming.”¯
Hmmm. . .Carbon markets and profits, not government subsidies and taxes. Sounds like the better approach to me, too.
This entry was posted on Monday, November 27th, 2006 at 11:11 am and is filed under Cap and Trade, Climate Change . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
