Nobel prize economist on carbon tax and climate destabilization

Oliver Wendell Holmes Jr once famously said that “taxes are the price we pay for a civilized society.” In the case of a carbon tax to combat climate change (or, as I prefer to call it, climate destabilization), it may the price we pay for having any civilization at all.

A few governments—notably, parts of Canada and South Korea—have adapted his idea in ways that not only show signs of working, but it also reframe it not as a tax, but as a windfall for taxpayers.

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