What Role Should Economists Play in Climate Policy?

Jim Boyce discusses the regressive nature of carbon pricing and its role in addressing market failures. He emphasizes the importance of economists in climate policy, highlighting carbon pricing as a key tool. Boyce also explores the price inelasticity of fossil fuels and the uneven impact of carbon pricing on different income groups. He advocates for a mix of carbon pricing, regulatory policies, and public investment to address climate change effectively. The discussion concludes with the need for a more democratic distribution of wealth and power to improve environmental policies.

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