In December talks in Paris involving more than 200 countries may result in a new agreement aimed at reducing carbon emissions. In the months leading up to the conference, The Economist will be publishing guest columns by experts on the economic issues involved. Here, Christian Gollier (pictured at left) and Jean Tirole (at right) of the Toulouse School of Economics explain why a carbon tax, or a carbon cap-and-trade system, should be policymakers' preferred weapon.
THIS December France will play host to crowds of diplomats as the United Nations holds make-or-break talks on climate change. The challenge for delegates in Paris is to achieve a binding agreement that will limit the increase in the world’s temperature to no more than 2°C. It is an incredibly difficult task. But economics can shed light on which strategies have the best chance at success.
Climate change is a...Continue reading
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