A must read for Tony Abbott and his compatriots

"The Climate
Casino" by
William D.
Nordhaus.

Tony Abbott and his Liberal-National Party compatriots need urgently to read the writing of Yale economics Professor William D. Nordhaus.

Writing in the “Climate Casino”, Prof Nordhaus argues, “A carbon tax is the closest thing to an ideal tax that can be imagined”.

Prof Nordhaus continues: “It is the only tax under consideration that will increase economic efficiency because it reduces the output of an undesirable activity (emitting CO2).

“Implementing a carbon tax can be a compromise for fiscal conservatives and environmental activists as a way to reduce growing fiscal deficits, slow global warming, and do both of these in a market friendly manner”, he wrote.

Being a professor of economics, Nordhaus’s writing has an obvious leaning toward money matters and that can be somewhat disenchanting, particularly if you see economics as a rude human construct is at the root of our environmental difficulties, but despite that it is still many timely observations.