The new currency in the novel Ministry for the Future has real-world supporters.
By now we’re probably all familiar with the concept of carbon taxes. The idea is pretty simple: if we want less carbon to go into the atmosphere, we have to provide economic incentives to change behavior. Most mainstream economic proposals to tackle climate change are essentially ways of attaching a cost to carbon—one that approximates the toll each ton takes on the Earth.
Though it may seem incongruous with our current economy, the carbon coin idea draws from real proposals aimed at creating a reward for reducing the risks of climate change. Some economists believe it could be an opportunity to supercharge efforts to save the planet in ways not possible with other more-accepted tools.
The general idea has popped up around the world under a few names. In Brazil, Alfredo Sirkis, the late executive director of think tank Centro Brasil no Clima, argued for the need for a policy of “One way to think about the idea is a sort of targeted quantitative easing, which is when central banks, like the United States’ Federal Reserve, buy government bonds and inject new money into the economy, which lowers interest rates and stimulates borrowing and investment.
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