Science magazine’s climate plan is a wealth transfer scheme
Fixing things on a blackboard and fixing things in real life are not the same. A recent article in Science, viewed by many to be the premier scientific journal in the United States (if not the world), presents a depressing example of this distinction.
TL;DR
- A recent article in *Science* proposes a complex international network of carbon taxes, tariffs, and regulations on heavy industry.
- The stated goal of the proposal is to combat anthropogenic climate change by reducing greenhouse gas emissions.
- The plan is viewed by some as an example of economists claiming corrective taxes can fix market failures and lead to optimal outcomes.
- Critics suggest that theoretical economic models do not always translate effectively to real-world problem-solving.