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15 - Stuck in First Gear

from Part II - Economics

Published online by Cambridge University Press:  19 March 2023

Simon Sharpe
Simon Sharpe
Affiliation:
World Resources Institute, London
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Summary

At any moment in time, you can ride a bike with least effort by cycling in first gear. But if you want to ride around the block with least effort, first gear will not be ideal. By failing to distinguish between these two different situations, economists have recommended the worst possible climate change policy to governments. Contrary to their belief, emissions trading will achieve decarbonisation at maximum cost, and minimum speed.

Keywords

Carbon pricingCarbon taxCap and tradeEmissions tradingEquilibriumComplexityFeedbacks
Type
Chapter
Information
Five Times Faster
Rethinking the Science, Economics, and Diplomacy of Climate Change
 , pp. 148 - 159
Publisher: Cambridge University Press
Print publication year: 2023

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  • Stuck in First Gear
  • Simon Sharpe, World Resources Institute, London
  • Book: Five Times Faster
  • Online publication: 19 March 2023
  • Chapter DOI: https://doi.org/10.1017/9781009326506.015
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  • Stuck in First Gear
  • Simon Sharpe, World Resources Institute, London
  • Book: Five Times Faster
  • Online publication: 19 March 2023
  • Chapter DOI: https://doi.org/10.1017/9781009326506.015
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • Stuck in First Gear
  • Simon Sharpe, World Resources Institute, London
  • Book: Five Times Faster
  • Online publication: 19 March 2023
  • Chapter DOI: https://doi.org/10.1017/9781009326506.015
Available formats
×