TY - JOUR
T1 - The Social Cost of Carbon
T2 - Valuing Inequality, Risk, and Population for Climate Policy
AU - Fleurbaey, Marc
AU - Ferranna, Maddalena
AU - Budolfson, Mark
AU - Dennig, Francis
AU - Mintz-Woo, Kian
AU - Socolow, Robert
AU - Spears, Dean
AU - Zuber, Stéphane
N1 - Publisher Copyright:
© The Author(s) 2018.
PY - 2019/1/1
Y1 - 2019/1/1
N2 - We analyze the role of ethical values in the determination of the social cost of carbon, arguing that the familiar debate about discounting is too narrow. Other ethical issues are equally important to computing the social cost of carbon, and we highlight inequality, risk, and population ethics. Although the usual approach, in the economics of cost-benefit analysis for climate policy, is confined to a utilitarian axiology, the methodology of the social cost of carbon is rather flexible and can be expanded to a broader set of social-welfare approaches.
AB - We analyze the role of ethical values in the determination of the social cost of carbon, arguing that the familiar debate about discounting is too narrow. Other ethical issues are equally important to computing the social cost of carbon, and we highlight inequality, risk, and population ethics. Although the usual approach, in the economics of cost-benefit analysis for climate policy, is confined to a utilitarian axiology, the methodology of the social cost of carbon is rather flexible and can be expanded to a broader set of social-welfare approaches.
UR - http://www.scopus.com/inward/record.url?scp=85063520894&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85063520894&partnerID=8YFLogxK
U2 - 10.1093/monist/ony023
DO - 10.1093/monist/ony023
M3 - Review article
AN - SCOPUS:85063520894
SN - 0026-9662
VL - 102
SP - 84
EP - 109
JO - Monist
JF - Monist
IS - 1
ER -