The Social Cost of Carbon: Valuing Inequality, Risk, and Population for Climate Policy

The Monist 102 (1):84-109 (2019)

Authors
Mark Budolfson
University of Vermont
Kian Mintz-Woo
Princeton University
Marc Fleurbaey
Princeton University
Abstract
We analyze the role of ethical values in the determination of the social cost of carbon, arguing that the familiar debate about discounting is too narrow. Other ethical issues are equally important to computing the social cost of carbon, and we highlight inequality, risk, and population ethics. Although the usual approach, in the economics of cost-benefit analysis for climate policy, is confined to a utilitarian axiology, the methodology of the social cost of carbon is rather flexible and can be expanded to a broader set of social-welfare approaches. [Open access]
Keywords climate change  cost benefit analysis  social cost of carbon  population  discounting  risk  inequality
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DOI 10.1093/monist/ony023
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References found in this work BETA

The Problem of Global Justice.Thomas Nagel - 2005 - Philosophy and Public Affairs 33 (2):113-147.
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Weighing Lives.John Broome - 2007 - Philosophical Review 116 (4):663-666.

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