Economist Greenstone Proposes Climate Damage Payments to Global South

Economist Michael Greenstone suggests that rich countries should pay developing nations for climate damage caused by their emissions, but only if those countries implement carbon pricing. In his upcoming book "Just Economics," co-authored with Abhijit Banerjee and Esther Duflo, Greenstone proposes direct payments to individuals in countries like India, based on the damage from OECD countries' emissions, allowing recipients to spend the money freely.

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