By Tim Worstall
Europeans believe human-made climate change is real, a survey has shown, with most feeling action must be taken soon – as long as they do not have to sacrifice too much to achieve it.
That seems sensible to us. We’re not insisting it’s correct in every detail but that looks like a wholly sensible human reaction. So, yes, let’s solve this problem, whatever that problem is, but let’s do it the cheap way, right?
With climate change that means junking all that nonsense about socially just transitions, morphing back to medieval peasantry but with iPhones and the rest. It also means not having emissions targets - for the costs of hitting the target might well be higher than the populace is willing to pay. Instead, just do those things which make sense to do - do those things that add value by their being done, do not do those things that cost more to do than they are worth. Value here being decided by the populace, not the politicians.
This, in turn, means the one intervention into the price system and then leaving people be to make their decisions in the face of those prices. You know, what William Nordhaus, The Stern Review, the technical parts of the IPCC reports all say - have the carbon tax. Make people see the costs and see whether they’re prepared to pay them.
And also, you know, entirely unlike our own current political policies about it all.
But then isn’t that so often the case? Politics so rarely ends up instituting the fair, just, efficient solution to anything.