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Pigovian tax

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Pigovian Tax What is it?
Carbon Tax = Pigovian Tax  When a market creates negative externalities  Carbon Tax is a tax set upon companies that pollute the environment  Most efficient way to correct the negative externalities
Criticism  What size tax is appropriate?  Tax = external cost of emission  but not concensus on size of external cost  Actions must be taken today to avoid outcomes that will occur in the future
Alternatives  CAFE Standards: Corporate Average Fuel Company  Increasing fuel efficiency of cars  Cap-and-trade system  Allowances are bought and sold
Outcome  Global carbon tax is easier to negotiate  Raising of global revenue

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Pigovian tax

  • 2. Carbon Tax = Pigovian Tax  When a market creates negative externalities  Carbon Tax is a tax set upon companies that pollute the environment  Most efficient way to correct the negative externalities
  • 3. Criticism  What size tax is appropriate?  Tax = external cost of emission  but not concensus on size of external cost  Actions must be taken today to avoid outcomes that will occur in the future
  • 4. Alternatives  CAFE Standards: Corporate Average Fuel Company  Increasing fuel efficiency of cars  Cap-and-trade system  Allowances are bought and sold
  • 5. Outcome  Global carbon tax is easier to negotiate  Raising of global revenue