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...Turns out, this last question is a matter of great debate. Typically the province of economists wielding formulas too esoteric for most of us to follow, the Social Cost of Carbon (SCC) is currently under discussion by the EPA and other regulatory agencies. The figure they choose has huge implications for our ability to make inroads against climate change. The Social Cost of Carbon represents the estimate of damages from one more ton of CO2 added to the atmosphere. (One ton of CO2 is what the average family car emits every two-and-a-half months.) The SCC is important...
...other key statistical variable is the "discount rate," which establishes how to account for future costs and benefits in today's currency. A high discount rate implies that what happens years from now should have less bearing on decisions made today. Inherent in this seemingly technical point is the question: what do we, citizens today, owe the people of tomorrow? Particularly since, once released, CO2 stays in the air for at least 100 years. (See TIME's special report about the Copenhagen Climate-Change Conference...
...question you might ask is ‘why didn’t this happen earlier?’” Rakoff said...
Though Sen. Kerry was in Syria and could not be present, Foreign Relations staffer Chris Wyman ushered the members of HAC and other activists into the senator’s office for a question-and-answer session on global AIDS funding...
...Most classes are based on the final answer,” said Law School professor Todd D. Rakoff ’67, who helped design and teach the course. “This course was based on the very first question...