IR 323 Lecture Notes - Lecture 9: Leapfrogging, Gas Flare, Carbon Tax
21 Dec 2016
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Document Summary
Applied dynamic analysis of the global economy. Integrated assessment model assesses all global change long term. Producers and consumers are first and second parties, anything that affects an outside third party is an externality. Whereas normal pollution is a negative externality. When businesses target cost-effective actions, they"re externalizing as many costs as possible. Like that"s what it would take to internalize energy production costs. Some environmentalist got hung, violence against protesters. All kinds of externalities, deforestation for production, pipeline leaks, gas flaring. All the gas flares in the world could power africa. Shell went to court, payed . 5 million in settlements. Generally the warmer it gets, the less productive all countries" economies will be. Already contributing to deaths of 400,000 a year. 1. 6% of gdp, some trillions of dollars. The kuznet curve, emissions go up during development and then theoretically drop. Rio yearly meetings try to ensure those things. Have a bunch of sdgs, sustainable development goals.
