This past Monday, Professor Christopher Ragan gave a talk in the Agora in regards to carbon pricing, and its benefits to the Canadian economy.
Ragan literally wrote the book on economics, and his textbook is the most widely used across the nation. His impressive record also includes his tenure as an associate professor at McGill University, holding the David Dodge Chair in monetary policy at the C.D. Howe Institute from 2010 to 2013, and his excellent work as the Editor-in-Chief of World Economic Affairs from 1996 to 2000. During his talk in the Agora, Ragan took his time highlighting the benefits of carbon pricing as a policy, especially when compared to the other options that could allow Canada to reach its 2030 GHG objectives.
These other policies, as well as the relative burden they would bring to Canadians is detailed in the Ecofiscal Committee’s final report, titled Bridging the Gap. As he explained in his presentation, the solution that would have the least net impact on all Canadians would be a strong carbon pricing policy that ramps up over time. Given that the current price is a mere $20 per tonne, as opposed to the recommended $220 per tonne, we can hope that it’ll be enough.
Originally Published in Bandersnatch Vol.49 Issue 09 on February 12th, 2020