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Carbon Taxes and Innovation
“The idea that raising the cost of energy will induce the emergence of new technologies could only be proposed by people completely ignorant of economic history and the history of technology. I cannot think of a single instance of this happening. Taken to its logical conclusion we can argue that the Romans would have developed the steam engine — if not the car — if only the emperors had have had the foresight to put a heavy tax on horses and bullocks…
“And if taxes are all that is needed to bring about technological progress why haven’t heavy petrol taxes in Europe led to new transport technologies?”
Gerard Jackson, Economics Editor Brookes News
http://brookesnews.com/100103alternativenergy.html
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