Many countries have proposed a Carbon Tax as a means to combat climate change. The principle behind it is that carbon emissions pose an externality to people's health and as such need to priced into the cost of goods. Theoretically, this would encourage people to buy goods that have a lower carbon content, as that would be reflected in a lower price. So whether you are producing steel, oil, gasoline, lumber, mining, etc. regardless of your industry, if you are generating carbon emissions, you need to pay a price on them.
One very popular and outspoken proponent of a carbon tax is Elon Musk. In this episode, we discuss comments Elon recently made about the efficacy of a carbon tax, and his perspective as a billionaire concerned about the planet. We also discuss carbon tax more broadly, in terms of its origins, intended use and implementation, and how the resulting effects will be felt by everyday individuals.
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