Bloomberg endorses Obama for Prez due to climate change

Northside Storm · Nov 1, 2012

Trader_Jorge said: ↑

Cap and trade is a dead issue. Totally dead.
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You're not worth addressing, but the issue is. Be heartened, cap and traders!

In today's Wall Street Journal, I offer a manifesto for the Pigou Club, the elite group of pundits and policy wonks with the good sense to advocate higher Pigovian taxes. (Click here for a partial membership list.)
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-Mankiw

http://www.nytimes.com/2009/08/09/business/economy/09view.html?_r=0

DURING the presidential campaign of 2008, Barack Obama distinguished himself on the economics of climate change, speaking far more sensibly about the issue than most of his rivals. Unfortunately, now that he is president, Mr. Obama may sign a climate bill that falls far short of his aspirations. Indeed, the legislation making its way to his desk could well be worse than nothing at all.

Let’s start with the basics. The essential problem of climate change, scientists tell us, is that humans are emitting too much carbon into the atmosphere, which tends to raise world temperatures. Emitting carbon is what economists call a “negative externality”— an adverse side effect of certain market activities on bystanders.

The textbook solution for dealing with negative externalities is to use the tax system to align private incentives with social costs and benefits. Suppose the government imposed a tax on carbon-based products and used the proceeds to cut other taxes. People would have an incentive to shift their consumption toward less carbon-intensive products. A carbon tax is the remedy for climate change that wins overwhelming support among economists and policy wonks.
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By N. GREGORY MANKIW

From 2003 to 2005, Mankiw was chairman of the Council of Economic Advisers under President George W. Bush. In 2006, he became an economic adviser to Mitt Romney and continued during Romney's 2012 presidential bid.

Capitalism Against Climate Change

The case for action to combat global climate change has grown increasingly compelling in recent years.

One recent change is a proposal to balance a need for policy action with a mechanism for prudent economic risk management. I refer to new recommendations by the National Commission on Energy Policy for an emissions trading program that safeguards the economy. This is the idea behind proposed legislation by Sens. Jeff Bingaman (D., N.M.) and Arlen Specter (R., Pa.)

A serious response to climate change must begin by turning our emissions downward.
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R. GLENN HUBBARD

http://online.wsj.com/article/SB118057946335919651.html

Hubbard serves as economic advisor to the 2012 presidential campaign of Mitt Romney, a position he also held during Romney's 2008 presidential campaign. In August 2012, Politico claimed Hubbard to be "a likely Romney appointee as Federal Reserve chairman or Treasury secretary".

SamFisher · Nov 1, 2012

These tears are nourishing to my tired walking -4.5-miles -each -way - to - work soul.

mc mark · Nov 1, 2012

Just a reminder, Bloomberg did not endorse a candidate in 2008.

El_Conquistador · Nov 1, 2012

Politicizing a tragedy... this is the textbook definition of it. Classless.

peleincubus · Nov 1, 2012

Trader_Jorge said: ↑

Politicizing a tragedy... this is the textbook definition of it. Classless.
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maybe your just an angry young (old) man

mc mark · Nov 1, 2012

Trader_Jorge said: ↑

Politicizing a tragedy... this is the textbook definition of it. Classless.
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You mean like shouting 911, 911, 911, 911, 911, 911, 911, 911, 911, 911, 911, 911, 911, 911, 911, 911, 911, 911, 911, 911, 911, 911, 911, 911, v911, 911, 911, 911, 911, 911, 911, 911, 911, 911, 911, 911, 911, 911, 911, 911, in 2004?

mc mark · Nov 1, 2012

Trader_Jorge said: ↑

Politicizing a tragedy... this is the textbook definition of it. Classless.
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And BTW the only people politicizing a tragedy are freaks from your own party.

dandorotik · Nov 1, 2012

Trader_Jorge said: ↑

Politicizing a tragedy... this is the textbook definition of it. Classless.
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I agree.

Sincerely,

Benghazi

DimeDropper · Nov 1, 2012

David Burge is a well-known right-winger who was not "undecided." He's lying. Which makes him a true Romneyite, of course.

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Bloomberg endorses Obama for Prez due to climate change

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