Summary of On the Economics of a Carbon Tax for the United States

Looking for the report?
We have the summary! Get the key insights in just 5 minutes.

On the Economics of a Carbon Tax for the United States summary
Start getting smarter:
or see our plans

Rating

9

Qualities

  • Analytical
  • Controversial
  • Important

Recommendation

The Paris Agreement on climate change homes in on curbing greenhouse gases (GHGs), specifically carbon dioxide. While 27 governing districts, including nations and states, currently operate under a carbon tax architecture, the United States does not impose such a levy. Professor Gilbert E. Metcalf argues that a US carbon tax would help abate GHGs, and it would do so more effectively than a cap-and-trade scheme. Business leaders, analysts and policy experts can explore the details and effects of a US carbon tax in this informative and comprehensive report.

About the Author

Gilbert E. Metcalf is an economics professor at Tufts University and a researcher at the National Bureau of Economic Research.

 

Summary

Most world leaders view climate change as a systemic crisis that will imperil future generations. At the root of climate change is the emission of greenhouse gases (GHGs) into the atmosphere. Of these GHGs, carbon dioxide (CO2) represents the largest component, some 75% globally and 82% in the United States. Analysts calculate that a one-degree Celsius [1.8-degree Fahrenheit] increase in global temperatures would cut US GDP by 1.2%. From a global perspective, GDP drops as much as 8% if temperatures climb by six degrees Celsius. Leaders in 27 locales have instituted...


More on this topic

Customers who read this summary also read

After Nobel in Economics, William Nordhaus Talks About Who’s Getting His Pollution-Tax Ideas Right
9
The Conservative Case for Carbon Dividends
10
The 2018 Report of the Lancet Countdown on Health and Climate Change
8
US Global Change Research Program Climate Science Special Report (CSSR)
9
The Economic Case for Combating Climate Change
9
Climate Change and the Federal Reserve
8

Related Channels

Comment on this summary