The issue of carbon taxes is under debate in the U.S. Congress. The fear is a new tax will destroy jobs and hinder growth. Will it? Meredith Fowlie at the Energy Institute at Haas says the U.S. should see Europe as a very useful carbon tax laboratory experiment: half the countries have some sort of tax, the other half don’t. She’s pulled together evidence to answer the simple question: does a carbon tax affect aggregate employment and growth. Her … [Read more...]
GDP – Gross Environmental Damage = actual wealth creation
We all know that GDP measures everything that’s been paid for, both the good and the bad. There have already been studies that try to account for the “bad” GDP that costs us in the long run and so adds less value than stated. Catherine Wolfram, at the Haas School of Business, takes a thoughtful look at Gross Environmental Damage which separates out the kind of GDP that we’re going to have to spend money cleaning up in the future. The GED concept … [Read more...]
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