Source: American Institute for Economic Research
by Kenneth W Costello
“Many, if not most, mainstream economists, both conservative and liberal, support a carbon tax. As economist Alan Blinder recently remarked, ‘It’s only a very slight exaggeration to say that all economists favor a carbon tax to mitigate climate change.’ But I argue below their position seems to overlook real-world politics, bureaucratic incentives, and the ‘pretense of knowledge.’ Advocates of a carbon tax seem to fall victim to what Ronald Coase labeled ‘blackboard economics.’ The benefits from such a tax may, therefore, be far less than promised by blackboard economics, and than advocates are claiming. In fact, the benefits can be negative, given what I regard as ‘guesstimates’ (highly uncertain metrics) that policymakers rely on to represent the damage from carbon.” (04/29/24)
https://www.aier.org/article/economists-advocacy-for-a-carbon-tax-is-misguided/