Why carbon tax cheaper way to reduce carbon dioxide emission

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Reference no: EM131021426

According to an article in the New York Times: "Top economists agree a tax on fuels and the carbon they spew into the atmosphere would be the cheapest way to combat climate change." Why would a carbon tax be a cheaper way to reduce carbon dioxide emissions than the command-andcontrol approach of ordering utilities to emit less carbon dioxide and automobile companies to produce more fuelefficient cars?

Source: Eduardo Porter, "In Energy Taxes, Tools to Help Tackle Climate Change," New York Times, January 29, 2013.

Reference no: EM131021426

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