Friday, October 26, 2007

Mankiw Very Much

The Pigou Club has another member:

French President Nicolas Sarkozy on Thursday called for a national "carbon tax" on global-warming pollutants and a European levy on imports from countries outside the Kyoto Protocol.

Sarkozy mentioned no names, but any such levy is bound to be targeted at imports from the United States and Australia, the only advanced economies that remain outside the UN's landmark pact on greenhouse-gas emissions.

....Sarkozy said he would consider shifting part of France's tax burden from labour to pollutants, a key demand of environmentalists.

...."We need to profoundly revise all of our taxes... to tax pollution more, including fossil fuels, and to tax labour less."

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