But why should we steer the economy away from carbon?

From The Economist just now. We live in the midst of such idiocy in almost every direction that it will be a miracle if we get through this without a major collapse, going well beyond a mere depression. You really have much to fear when it’s Daniel Andrews leading the way. Plus this:

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Our cover this week calls for a global effort to tackle climate change. Covid-19 creates a unique chance to steer the economy away from carbon at a much lower financial, social and political cost than before. Rock-bottom energy prices make it easier to cut subsidies for fossil fuels and to introduce a tax on carbon. The revenues from that tax can help repair battered government finances. The businesses at the heart of the fossil-fuel economy—oil and gas firms, steel producers, carmakers—are already going through the agony of shrinking their long-term capacity and employment. Getting economies back on their feet calls for investment in climate-friendly infrastructure that boosts growth and creates new jobs. Low interest rates make the bill smaller than ever. The world should seize the moment.

2 thoughts on “But why should we steer the economy away from carbon?

  1. I stopped reading The Economist about 22 years ago. I see them at Sydney Uni trying to sell subscription for 80% off. I tell them when it is the same price as loo paper then I’ll use it. “New jobs”, yes, at the expense of old. Go read Bastiat re what u don’t see. Such a shallow analysis n distorting magazine.

  2. Pingback: But why should we steer the economy away from carbon? - The Rabbit Hole

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