Temperature Anomalies 1880-2010

Econbrowser: May Global Surface Mean Temp Anomalies

Well, this is interesting. And terrifying. (via Brad Delong)

Can we have a Carbon Tax, now new coalition overlords?

Just abolish Council Tax, cut VAT  and raise the income tax threshold and introduce a Carbon Tax and a Land Value Tax, mmmkay? Revenue neutral, everyone’s a winner, and that graph only get a bit, not a lot, more red.

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4 thoughts on “Temperature Anomalies 1880-2010

  1. “Revenue neutral, everyone’s a winner, and that graph only get a bit, not a lot, more red.”

    Hmm, no.

    That only happens if all the other countries do it too. Which they won’t.

    We’re fucked, basically.

    1. Okay, maybe correct.

      But surely a little political bravery is in order.

      Plus:

      IF we assume that climate change will be tackled (if we assume otherwise then you have to buy ££££ in bunker building companies) then we have to assume that all countries will adopt these measures sooner of later. THEN the companies which grow in the UK under such a pigouuvian (oooh!) framework will be better placed than others to compete in such a world. IE in the medium term, if we assumer climate change will be addressed at all, it is a good policy, whether we are first mover or not.

      AND

      IF we adopt this tax it will mean we move to a less distorting tax system (because we’re taxing consumption and land) which should lead to slightly higher growth because these measures will be revenue neutral. The regressive nature of a carbon tax (I’m relatively confident in calling it regressive although I’ve seen no empirical research) can be offset with rebates/benefits if necessary).

      You’re argument doesn’t convince me, at least the short version doesn’t. At length you might be right, but you’re still going to have to convince me.

      “We’re fucked, basically.”

      If you’re saying that climate change will never be addressed you’re right.

      BUT

      IF climate change is never going to be addressed then a different tax system in the UK is not the most significant drag on growth, it will be relatively minor.

      Otherwise, tax changes still make sense even if unilateral.

      I’m open to convincing otherwise, but while the UK still produces ~6% of the earth’s economic output I won’t discount its global clout.

  2. Have any right-wing blogs mentioned Climategate recently btw?

    Thngs haven’t panned out very well for the “sceptics”.

    1. Hmmm… let me think!

      It’s the same with (choosing a boring example) the interest rate on Government bonds.

      Whenever they moved upwards under Labour then the right wingers cried “the bond vigilantes! Labour have bankrupted the country!” but didn’t mention the equal sized movement in the other direction.

      Same with immigration, mention the increases but don’t mention the decreases.

      It allows you to create a sense of drive and continuous negative change where none exists.

      Bastards.

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