November 19, 2013
A Carbon Tax on Everything -- Really, Robert?
Is there such a thing as "global warming pragmatism?" Robert J. Samuelson, who writes on economics for the Washington Post, thinks so -- and he's just flat wrong. Samuelson seeks to bridge differences over a polarized and contentious issue: "man-made" global warming. Problem is, Samuelson's bridge is plenty of girders, cables, concrete, and asphalt short of making it to the other shore. Samuelson is much taken with the work of an MIT economist, Robert Pindyck. Pindyck, according to Samuelson is a difference-splitter. Can't say that global warming is overstated, but can't say it's understated. When in doubt, tax -- carbon tax everything -- though modestly, just in case. In Samuelson's very own words: Pindyck sounds like a "global warming denier." He isn't. True, he thinks climate change and its adverse economic consequences could be wildly overstated. He also thinks they could be wildly understated. The effects might ultimately be catastrophic. We simply don't know. Ignorance...(Read Full Article)