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Essay / Research Paper Abstract
This 3-page paper compares articles about how microeconomics fits into the overall climate change activities. Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: D0_MTeconclim.rtf
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Unformatted sample text from the term paper:
climate change, scholars, academicians and scientists (not to mention economists) arent certain about how to pay for such change. In the
article "The Role of Economics in Climate Change Policy," authors McKibben and Wilcoxen point out that taxes can be used sometimes to work toward decreasing various units of pollution. The
problem with this method, however, is that the tax tends to be regressive - the authors point out that a company that might be already paying $1 million to reduce
its emissions by 20% (on a voluntary basis) would be hostile to the idea of paying an additional $4 million to help other companies that arent quite so altruistic (McKibben
and Wilcoxen 119). The authors suggest that pollution permits and taxes have political and economic problems when used alone, but a hybrid policy (that might combine long-term emissions permits with
short-term permits) might be one way to get around this (McKibben and Wilcoxen 119). Permits (distributed by the countries governments) could be bought, sold or leased, with each one allowing
the holder to emit a certain amount of pollution - something like one ton of carbon a year (McKibben and Wilcoxen 119). The short-term permits, which would be good for
one year, could be auctioned, distributed or used in any other way the government would choose - and once given out, could be traded between firms or bought and retired
by environmental groups (McKibben and Wilcoxen 120). As governments receive revenue from selling the permits annually, they would enforce the policy - and firms would have an incentive to monitor
one another, because cheating would diminish the value of permits held by the other firms (McKibben and Wilcoxen 121). This would help regulate emissions without incurring extra costs to countries
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