Pricing carbon around the globe: Why it's so difficult
How do we finance the cost of mitigating climate change, while discouraging continued use of fossil fuels? The largest public statement of economists in history argues for a carbon tax - which would charge a fee for every ton of carbon dioxide emitted.But, if one country charges a different carbon tax than another, what would happen to international trade? Would fossil fuel use and emissions-intensive industrial processes actually decrease, or just move to a country without a carbon tax?Carbo...