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The Quest for SecurityProtection Without Protectionism and the Challenge of Global Governance$
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Joseph Stiglitz and Mary Kaldor

Print publication date: 2013

Print ISBN-13: 9780231156868

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231156868.001.0001

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Sharing the Burden of Saving the Planet: Global Social Justice for Sustainable Development

Sharing the Burden of Saving the Planet: Global Social Justice for Sustainable Development

Lessons from the Theory of Public Finance*

Chapter:
(p.161) 7 Sharing the Burden of Saving the Planet: Global Social Justice for Sustainable Development
Source:
The Quest for Security
Author(s):

Joseph E. Stiglitz

Publisher:
Columbia University Press
DOI:10.7312/columbia/9780231156868.003.0007

The risks of climate change resulting from the increase in the atmospheric concentration of greenhouse gases have been well documented. There is a global consensus that strong actions need to be taken to ensure that the world does not face excessive risk from an increase in the atmospheric concentration of greenhouse gases. This chapter is concerned with how the global community should respond to this global risk and, in particular, how the burden of preventing global warming should be shared, especially between developed and less-developed countries. Standard public finance theory provides clear guidance about how to achieve such reductions in the most efficient way and how the burden should be shared. Clearly, the brunt of the burden (under virtually any welfare criterion) should lie with the advanced industrial countries. The chapter concludes that a carbon tax may be the best way of avoiding the impasse confronting the world in addressing climate change.

Keywords:   global warming, climate change, greenhouse gases, global risk, carbon tax

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