Making a Smooth Economic Transition to a Low Carbon Economy

The major industrial nations, including the members of the OECD, as well as China, India, and Brazil, will agree to make significant reductions in carbon emissions by 2050, although targets have not been set yet. Economic research has shown that the impact of these cuts in emissions will have only modest impacts of global economic growth once the transition is complete. We do not know, for example, whether the shift will be seamless or chaotic. Experience suggests, though, that failure to plan for the transition could lead to a period of high inflation, recession, or worse.

Festival: 2007

More on this Session

Watch and Listen: World

In the nearly 18 months of his presidency, Donald Trump has made an array of foreign policy changes. It began with... See more
Globalization ushered in an era of free trade, fluid borders, and unparalleled corporate profits. For its proponents,... See more
While the allegations of Russia’s 2016 election meddling have dominated US headlines, Vladimir Putin’s government is... See more
Donald Trump’s America First philosophy and his retreat from international alliances led pundits to dub Germany’s... See more
The last year has seen a clear trend toward a more authoritarian China at home and a more aggressive China overseas. As... See more
For our annual signature event in the Benedict Music Tent, the 2018 Aspen Ideas Festival hosts former secretary of... See more