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A Note on the Ethical Implications of the Stern Review

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Author Info
Kenny, Charles

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Abstract

The Stern Review adopts two interesting elements in its calculation of the costs and benefits of climate change mitigation. First is a ‘global welfarist’ approach that values the utility of the World’s people (now and into the future) equally, and sets global utility maximization as the correct goal for policy. Second is an assumption of a declining marginal utility to income. Consistent application of the ‘global welfarist’ approach and the declining marginal utility of income together would demand an urgent process of global income redistribution. Over the long term, this might see the richest ten percent of the World’s population facing an average redistributive tax rate in the region of 82 percent.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 2281.

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Date of creation: 01 Mar 2007
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Handle: RePEc:pra:mprapa:2281

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Related research
Keywords: Stern Review Climate Change Welfare Economics

Find related papers by JEL classification:
Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters
O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General
F20 - International Economics - - International Factor Movements and International Business - - - General

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References listed on IDEAS
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  1. Wolfgang Keller & Stephen R. Yeaple, 2003. "Multinational Enterprises, International Trade, and Productivity Growth: Firm-Level Evidence from the United States," IMF Working Papers 03/248, International Monetary Fund.
    Other versions:
  2. Maskell, Peter & Malmberg, Anders, 1999. "Localised Learning and Industrial Competitiveness," Cambridge Journal of Economics, Oxford University Press, vol. 23(2), pages 167-85, March.
    Other versions:
  3. Grandmot, J-M. & Pintus & P. & de Vilder, R., 1997. "Capital-Labour Substitution and Comptitive Nonlinear Endogenous Business Cycles," Papers 9787, Universite catholique de Louvain - Center for Operations Research and Economics (CORE).
    Other versions:
  4. Girma, Sourafel & Greenaway, David & Wakelin, Katharine, 2001. "Who Benefits from Foreign Direct Investment in the UK?," Scottish Journal of Political Economy, Scottish Economic Society, vol. 48(2), pages 119-33, May. [Downloadable!] (restricted)
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