In an op-ed in Friday’s Wall Street Journal centered on the foolishness of “sustainable” investing, Burton Malkiel had this remark:
The most effective way to reduce an economy’s carbon intensity is to change the economic incentive to pollute.
Not at all. The most effective way to reduce an economy’s carbon intensity—even assuming that’s a useful thing to do—is to provide viable alternatives to carbon intensity. So far, all the Left and their Progressive-Democratic Party is willing to offer is punishment for carbon intensity.
All that does is punish the successful because the less successful don’t or can’t keep up or do better.