A Cure Worse Than the Disease: Global Economic Impact of Global Warming Policy

Adopting carbon restrictions of the magnitude mandated by the Lieberman-Warner and Waxman-Markey cap-and-trade bills or the Boxer-Sanders carbon-tax bill would harm the U.S. and global economies. By 2100, the global economy would lose more than $100 trillion. Analysis suggests that countries with st...

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Bibliographic Details
Published in:Policy File 2013
Main Author: Kreutzer, David W
Format: Report
Language:English
Subjects:
Economic policy
Environment
Government
The Heritage Foundation
Online Access:Request full text
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Summary:Adopting carbon restrictions of the magnitude mandated by the Lieberman-Warner and Waxman-Markey cap-and-trade bills or the Boxer-Sanders carbon-tax bill would harm the U.S. and global economies. By 2100, the global economy would lose more than $100 trillion. Analysis suggests that countries with stronger economies can overcome the challenges posed by warming. Indeed, faster growth would insulate the economy from the negative impacts of global warming.