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Articles

Vol. 44 No. 3 (2024)

The Promises and Pitfalls of Taxing Carbon

DOI
https://doi.org/10.4067/s0718-090x2024005000117
Submitted
August 28, 2024
Published
2024-10-21

Abstract

Carbon taxes are an important part of the policy toolbox for addressing climate change. Some economists, like William Nordhaus, have gone so far as to claim that “raising the price of carbon is a necessary and sufficient step for tackling global warming” (Nordhaus 2008, p. 22). Others have expressed skepticism about the efficacy of carbon taxes, at least as they have been configured so far (Green, 2021). Nevertheless, there is broad agreement—especially amongst economists—that carbon taxes are a critical policy instrument for disincentivizing unsustainable behavior and making green alternatives more attractive (Mintz-Woo, 2022; Mintz-Woo, 2024).

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