Ex-IMF head economist believes that worldwide carbon tax nee…

(MENAFN) There can be no answer to the climate issues without a worldwide carbon tax or an international emissions exchange system, as said by Kenneth Rogoff, a previous head economist at the International Monetary Fund (IMF).

In an exclusive meeting with Anadolu, Rogoff voiced around degrowth procedures, which advocate an action away from financial growth because it needs continues utilization of energy and resources, triggering to negatively affect the environment.

He trusts the entire degrowth action is not an answer and the plan of economies improving a little less fast will not do “any good.”

“That’s just nothing on the margin. And if you want to tell India and China and Africa never to grow again, that would make a big difference, but that’s not honest,” according to the American economist, who is presently a professor of finances and public policy at Harvard University.

Discussing that nations need to apply a carbon tax rather than following degrowth procedures, Rogoff stated that “You need a carbon tax, and I don’t think the kind of industrial policy that the Biden administration (in the US) is doing is a solution either. It does some good, but it’s just not nearly enough.”

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