Tackling climate change has trade-offs
Jamie Whyte writes for The Critic
Mark Littlewood writes for The Times
“In numerous conversations, an argument that I’ve made about costs has been countered by someone rolling out Wilde’s thoughts on price and value.
“Nowhere has this been clearer than in the environmental debate. Simply because we ascribe immense value to one thing — having a planet that is pleasant and sustainable to live on — does not mean we should be blind to prices and costs when it comes to the broad sweep of green issues.
“If we accept that there is both considerable uncertainty about possible long-term outcomes and that we are operating on a sliding scale, the price mechanism has a vital role to play. Rather than mandating or prohibiting certain behaviours, we can dial prices up and down as more information becomes available.”
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