"My own view is that there basically is no alternative to a market solution. The reason is, if you look around, who are we talking about that’s going to solve the problem: it’s you and me. There are billions of individuals, millions of firms, thousands of governments, hundreds of nations, and for them to take action, they’re going to have to have incentives. The kind of incentives we’re talking about; they’re not speeches - we can sermonize all day - but the incentives of market prices. [This requires us to] raise the prices of goods and services that are carbon intensive, and to lower the ones that are less carbon intensive."
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Academics from the United StatesJews from the United StatesEconomists from the United StatesNobel laureates in EconomicsPeople from Albuquerque
Original Language: English
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Yale University Press Conference Introducing Nobel Laureate William Nordhaus. (YouTube video). Associated Press. October 8, 2018.
https://en.wikiquote.org/wiki/William_Nordhaus
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William Nordhaus
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