For nearly 200 years, two transformative global forces have grown in tandem: economic activity and carbon emissions. The two have long been paired together, or, in economist-speak, “coupled.” When the economy has gotten bigger, so has our climate footprint.
This pairing has been disastrous for the planet. Economic growth has helped bring atmospheric CO2 concentrations all the way up to 420 parts per million. The last time they were this high was during the Pliocene epoch 3 million years ago, when global temperatures were 5 degrees Fahrenheit hotter and sea levels were 65 feet higher.
Most mainstream economists would say there’s an obvious antidote: decoupling. This refers to a situation where the economy keeps growing, but without the concomitant rise in greenhouse gas emissions. Many economists and international organizations like the World Bank, the United Nations, and the Organization for Economic Cooperation and Development celebrate evidence that decoupling is already occurring in many countries.
“L... Read more
