Hyperbolic discounting explains why the French are revolting over Macron’s fuel tax
Economists have long argued that an effective way of reducing carbon emissions is by increasing taxes on energy consumption. This year’s Nobel laureate, Bill Nordhaus, advocated a global carbon tax over 40 years ago. The scientific logic is impeccable. But the practical politics of it are fraught with difficulties. To say that energy taxes, and […]
A ray of light in these dark days: Living standards have risen far more than we think
The media seems full of gloom at the moment. Chaos over Brexit, Saudi Arabia, potential nuclear escalation between the US and Russia – you name it, people are worried about it. A ray of light is shone – an apt phrase as you will see – by the work of Bill Nordhaus, a Yale economist […]
