Image via Wikipedia

From ‘The Australian’ National Affairs.

A GROUP of senior economists has written an open letter advocating a price on carbon as an essential reform for the national economy, with an emissions trading scheme the preferred option.

The group of high-profile economists includes Grattan Institute director Saul Eslake, St George chief economist Besa Deda, Citigroup Global Markets’ Paul Brennan and Westpac chief economist Bill Evans.

The letter follows the release this week by Professor Ross Garnaut of the final update to his landmark 2008 study on climate change.

Macquarie Bank chief economist Richard Gibbs said consumers and businesses need a price on carbon to shift economic behaviour towards lower carbon and more energy efficient options.

“Australia needs to take substantive, urgent and apolitical action on carbon pricing for the sake of our economy and our environment,” Dr Hewson said.

“The failure of our generation to act will cost future generations dearly.”

The letter was written under the masthead of The World Wildlife Fund.    {My emphasis}

Read the whole article here.

Democracy fades into the distance.

Related articles

• Senior economists call for carbon price (news.theage.com.au)
• Hawke goes in to bat for Gillard on carbon tax (theage.com.au)
• Australia’s Great $6.3 Billion Redistribution (papundits.wordpress.com)
• Garnaut wants three bodies to oversee tax (news.theage.com.au)
• Carbon tax could be offset by tax cuts (news.theage.com.au)
• “Alan Moran against the carbon tax” and related posts (catallaxyfiles.com)
• Independent body may be a simple solution to hard issue (theage.com.au)