Adam Smith Institute

View Original

As we might have mentioned, idiocy is still idiocy even if it's political

Correct, a lot of you disagree with our solution to climate change - stick on a carbon tax and we're done. But given the head of steam that the idea has, rightly or wrongly, something is going to be done. Thus let's try to make sure that it's the right thing which is done, not the wrong.

For example:

Jeremy Corbyn’s Labour Party is considering radical plans to ban the sale of new petrol cars in the UK, The Independent can reveal.

The bold proposal would mean only zero- or low-carbon vehicles being sold after a set cut-off date, dramatically reducing air pollution and potentially saving thousands of lives.

Or, of course, kill tens of thousands as people cannot afford the transport that enables them to live and work. Then there are the people who get it right:

The Canadian government has agreed a deal with eight of the country’s 10 provinces to introduce its first national carbon price, Justin Trudeau has told reporters.

...

Under his plan, carbon pollution would cost C$10 (£6, US$7.60) a tonne in 2018, rising by C$10 a year until it reaches C$50 in 2022. The provinces can either implement a carbon tax or a cap-and-trade market.

That's a bit steep as a ramp up, something a little more gentle would be a better idea.

But the basic understanding is correct. And again, please, let's not say that it's all a scam. That doesn't matter - these people are going to do something so let's insist they do the right thing. Which is, of course, that some things are just too important to not use markets. If we really do have an externality about emissions then that one crowbar into market prices, that Pigou Tax, is the correct solution. Rather than politicians deciding that they're going to ban the greatest contribution to social freedom yet invented, the internal combustion engine powered car.

But there are those who argue differently:

One party source said: “It’s got nothing to do with whether the technology is there now. It is there, and this is already happening elsewhere in the world. It is only the political will that is lacking in this country.”

The European record of the Triumph of Political Will is just so inspiring, isn't it? But then Fascism always was a movement of the left....