Cameron Hepburn

7 July 2014

’59 economists unite for carbon pricing petition’ – Business Spectator

Cameron Hepburn

Fifty-nine leading economists united today in support of a price and limit on carbon pollution.

The group of Australian business and academic economists includes former Liberal Party leader John Hewson, financial sector economist Geoff Weir and Australian professors from universities across the globe.

In an open letter they urge all Members of Parliament and senators to work towards lasting agreement on a fair, economically efficient and environmentally effective policy to price and limit carbon emissions.

Dr Hewson said it was important to get the economics right.

“Australia needs to take substantive, urgent and apolitical action on carbon pricing for the sake of our economy and our environment,” he said.

“The failure of our generation to act will cost future generations dearly.”

Former hedge fund strategist Geoff Weir said all major political parties were on record as accepting the need to reduce carbon emissions, with the debate now being about how best to achieve it.

“Relying on government advisers and officials to pick the best emerging new technologies is guaranteed to be substantially less efficient, less effective and less equitable than relying on a carbon price to alter incentives,” he said.

“Both economic theory and Australia’s earlier experience with industry assistance confirm that view.”

Other signatories are:

Chris Adam, Associate Dean, Professor of Finance, Australian School of Business, University of New South Wales

Philip Adams, Professor, Centre of Policy Studies, Victoria University

Tihomir Ancev, Associate Professor, University of Sydney

Regina Betz, Senior Lecturer and Research Coordinator Centre for Energy and Environmental Markets, University of New South Wales

Harry Bloch, John Curtin Distinguished Emeritus Professor, School of Economics and Finance, Curtin Business School

Alison Booth, Professor of Economics, Australian National University

Christine Brown, Professor and Head of the Department of Banking and Finance, Monash University

Keith Hancock, Emeritus Professor, Flinders University Geoff Harcourt, Professor Emeritus, University of Adelaide

Tim Hatton, Professor of Economics, University of Essex and Australian National University

Cameron Hepburn, Professor of Environmental Economics, Oxford University 

Mark Horridge, Professor, Centre of Policy Studies, Victoria University

Stephen Howes, Professor of Economics and Director, Development Policy Centre, Crawford School of Public Policy, Australian National University

Click the below link for the full article.

Business Spectator - Economists Unite for Carbon Pricing Petition