{"id":82038,"date":"2023-01-30T11:49:45","date_gmt":"2023-01-30T11:49:45","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/global-carbon-tax-critical-to-tackle-climate-threat-ex-imf-chief-economist"},"modified":"2023-01-30T12:02:02","modified_gmt":"2023-01-30T12:02:02","slug":"global-carbon-tax-critical-to-tackle-climate-threat-ex-imf-chief-economist","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/global-carbon-tax-critical-to-tackle-climate-threat-ex-imf-chief-economist","title":{"rendered":"Global carbon tax critical to tackle climate threat: Ex-IMF chief economist"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>There can be no solution to the climate problem without a global carbon tax or an international emissions trading system, according to Kenneth Rogoff, a former chief economist at the International Monetary Fund (IMF).<\/p>\n

In an exclusive interview with Anadolu, Rogoff spoke about degrowth policies, which advocate a move away from economic expansion because it requires constant use of energy and resources, causing harm to the environment.<\/p>\n

He believes the whole degrowth movement is not a solution and the idea of economies developing a little less faster is not going to do \u201cany good.\u201d<\/p>\n

\u201cThat\u2019s just nothing on the margin. And if you want to tell India and China and Africa never to grow again, that would make a big difference, but that\u2019s not honest,\u201d said the American economist, who is currently a professor of economics and public policy at Harvard University.<\/p>\n

Arguing that countries should apply a carbon tax instead of pursuing degrowth policies, Rogoff said: \u201cYou need a carbon tax, and I don\u2019t think the kind of industrial policy that the Biden administration (in the US) is doing is a solution either. It does some good, but it\u2019s just not nearly enough.\u201d<\/p>\n

Last year, the US introduced a landmark legislation called the Inflation Reduction Act, which lays out ambitious targets such as cutting the deficit to curb inflation, investing in cleaner energy, and slashing carbon emissions by roughly 40% by 2030.<\/p>\n

However, despite being one of the world\u2019s biggest carbon emitters, the US has so far refrained from introducing a carbon tax at a national level.<\/p>\n

As part of his objections to the degrowth theory, Rogoff mentioned the difficulty in measuring the effects of carbon emissions.<\/p>\n

\u201cIf you look at how much emissions are going up, you\u2019re just not even able to see the effects of that. I think just saying that we have a recession there … and we\u2019re not having as much pollution is missing the main point. So it means it takes a year longer or a month longer for the temperature to rise. It\u2019s not really solving the problem,\u201d he explained.<\/p>\n

Some mainstream economists purport the idea that nations can cut their emissions and grow their economies at the same time by relying on more nature-friendly technologies such as renewable energy.<\/p>\n

Rogoff, though, contends that a carbon tax is the only way to encourage businesses to cut emissions and can actually be an effective solution to the problem of climate change.<\/p>\n

UK economic crisis \u2018a long time coming\u2019<\/b><\/p>\n

On the deepening cost of living crisis in the UK, Rogoff said the situation is similar to what is happening in France, Germany, and other countries.<\/p>\n

\u201cSo this crisis has been a long time coming. And that\u2019s it. They (the British government) are in a very difficult situation that has been caused by many successive decisions (of previous governments),\u201d he said.<\/p>\n

The country is also \u201csuffering\u201d the effects of Brexit, he added.<\/p>\n

\u201cIt\u2019s hard for either party to acknowledge that Brexit has costs. Maybe in the long run it will prove to be a good thing,\u201d said Rogoff.<\/p>\n

\u201cFrankly, the big question is if the European Union in 50 years turns out to be the best thing ever, will the UK regret it? If it turns out it\u2019s devolved into a regulatory nightmare, they\u2019ll be very happy they left it. But either way, divorce is always painful,\u201d he said.<\/p>\n

However, separation sometimes \u201cworks better for both parties in the long run,\u201d he added.<\/p>\n

On the growing wave of strikes and protests in the UK, he said: \u201cThis is the thing that everyone agrees on: the National Health Service (NHS) is a disaster. It\u2019s just not working, and people are going on strike about it. Even the Labour Party believes that in addition to greater spending, reform in the healthcare system is needed.\u201d<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. There can be no solution to the climate problem without a global carbon tax or an international emissions trading system, according to Kenneth Rogoff, a former chief economist at the International Monetary Fund (IMF). In an exclusive interview with Anadolu, Rogoff spoke about degrowth policies, which advocate a move away from economic […]<\/p>\n","protected":false},"author":84,"featured_media":82037,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6],"tags":[6857,7003,544],"class_list":["post-82038","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nGlobal carbon tax critical to tackle climate threat: Ex-IMF chief economist - kenya<\/title>\n<meta name=\"description\" content=\"There can be no solution to the climate problem without a global carbon tax or an international emissions trading system ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/global-carbon-tax-critical-to-tackle-climate-threat-ex-imf-chief-economist\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global carbon tax critical to tackle climate threat: Ex-IMF chief economist\" \/>\n<meta property=\"og:description\" content=\"There can be no solution to the climate problem without a global carbon tax or an international emissions trading system ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/global-carbon-tax-critical-to-tackle-climate-threat-ex-imf-chief-economist\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-30T11:49:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-30T12:02:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/01\/postQueueImg_1675066825.97.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"405\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/global-carbon-tax-critical-to-tackle-climate-threat-ex-imf-chief-economist#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/global-carbon-tax-critical-to-tackle-climate-threat-ex-imf-chief-economist\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Global carbon tax critical to tackle climate threat: Ex-IMF chief economist\",\"datePublished\":\"2023-01-30T11:49:45+00:00\",\"dateModified\":\"2023-01-30T12:02:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/global-carbon-tax-critical-to-tackle-climate-threat-ex-imf-chief-economist\"},\"wordCount\":668,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/global-carbon-tax-critical-to-tackle-climate-threat-ex-imf-chief-economist#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/01\/postQueueImg_1675066825.97.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"files\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/global-carbon-tax-critical-to-tackle-climate-threat-ex-imf-chief-economist#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/global-carbon-tax-critical-to-tackle-climate-threat-ex-imf-chief-economist\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/global-carbon-tax-critical-to-tackle-climate-threat-ex-imf-chief-economist\",\"name\":\"Global carbon tax critical to tackle climate threat: Ex-IMF chief economist - 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