Archives de catégorie : Économie du bien-être

Climate policies deserve a negative discount rate

Ponds on the Ocean photo by NASA Goddard Photo and Video on Flickr - Jul 14, 2011Marc Fleurbaey & Stéphane Zuber, Climate policies deserve a negative discount rate, FMSH-WP-2012-19, september 2012.

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Résumé

Nous défendons une méthodologie de l’actualisation, pour l’évaluation des effets à long terme des politiques climatiques, qui repose sur un objectif de bien-être social, contre l’idée que le taux de rendement du marché doit être utilisé à cette fin. Nous montrons aussi que dans le long terme, le taux d’actualisation pour de telles politiques devrait se concentrer sur le scénario le plus défavorable pour les populations les plus défavorisées. En conséquence, il est probable que le taux d’actualisation approprié pour les politiques climatiques doive être négatif, ce qui implique une grande priorité pour le futur.

Mots-clés

taux d’escompte, politique climatique, équité intergénérationnelle

Abstract

We defend a methodology of discounting, for the evaluation of the long-term effects of climate policies, which relies on a social welfare objective, against the view that the market rate of return should be used for that purpose. We also show that in the long run, the discount rate for such policies should focus on the worst-case scenario for the most disadvantaged populations. As a consequence, it is likely that the appropriate discount rate for climate policies should be negative, implying a high priority for the future.

Keywords

discounting, climate policy, intergenerational equity

The authors

Marc Fleurbaey is Robert E. Kuenne Professor at the University of Princeton (USA) and holds the Chaire “Welfare Economics and Social Justice” at the Collège d’études mondiales (Fondation Maison des sciences de l’homme, Paris). His research in economics and philosophy has been devoted to normative economics, distributive justice, and the evaluation of public policy. The main areas of application are the measurement of social welfare, climate policies, health prioritizing, and optimal taxation. He has been professor of economics and CNRS researcher in France. He is the coordinating editor of Social Choice and Welfare and a former editor of Economics and Philosophy. He is a Coordinating Lead Author for the Fifth Assessment Report (2014) of the Intergovernmental Panel on Climate Change. He has been a member of the Stiglitz-Sen-Fitoussi Commission on the Measurement of Economic Performance and Social Progress. He has published Fairness, Responsibility, and Welfare (Oxford 2008) and A Theory of Fairness and Social Welfare (Cambridge 2011, with F. Maniquet), as well as many articles in welfare economics, public economics, and political philosophy.

Stéphane Zuber is an economist at Centre de Recherche Sens, Ethique et Societe (CERSES) in Paris and coordinator of the Chaire “Welfare Economics and Social Justice” at the Collège d’études mondiales (Fondation Maison des sciences de l’homme, Paris). He got his PhD in Economics at Toulouse School of Economics. He works on issues of intergenerational equity and climate policy with a focus on the problem of climate related risks: how to design equitable climate policies in an uncertain world and how to deal with catastrophic and correlated risks. His current research is how to change standard ex ante evaluations of risk, taking into account fairness issues of intra- and intergenerational equity. He also works on rank-discounted utilitarianism and its implications for climate policy and population ethics. He has published several research papers in journals such as the Journal of Economic Theory, the International Economic Review and Social Choice and Welfare.

The text

This paper was written for the workshop on “Climate Change Justice”, Chicago, May 2012.
The authors have benefited from comments by G. Asheim, D. Weisbach (who in particular encouraged us to examine risky returns to investment), and the participants at the workshop on “Climate Change Justice”.

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The Facets of Exploitation

Marc Fleurbaey, The Facets of Exploitation, FMSH-WP-2012-11, may 2012.Marc Fleurbaey, The Facets of Exploitation, FMSH-WP-2012-11, may 2012.

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About the author

Marc Fleurbaey is Laurance S. Rockefeller Professor at the University of Princeton (USA) and Chaire « Welfare and social justice » at the Collège d’études mondiales. His research in economics and philosophy has been devoted to normative economics, distributive justice, and the evaluation of public policy. The main areas of application are the measurement of social welfare, climate policies, health prioritizing, and optimal taxation.

He has been professor of economics and CNRS researcher in France. He is the coordinating editor of Social Choice and Welfare and a former editor of Economics and Philosophy. He is a Coordinating Lead Author for the Fifth Assessment Report (2014) of the Intergovernmental Panel on Climate Change. He has been a member of the Stiglitz-Sen-Fitoussi Commission on the Measurement of Economic Performance and Social Progress. He has published Fairness, Responsibility, and Welfare (Oxford 2008) and A Theory of Fairness and Social Welfare (Cambridge 2011, with F. Maniquet), as well as many articles in welfare economics, public economics, and political philosophy.

The text

This text was written by Marc Fleurbay, Princeton University, who holds the Chaire entitled « Welfare Economics and Social Justice » at the Collège d’études mondiales. It is written for the 30th anniversary of the publication of John Roemer’s General Theory of Exploitation and Class. It has bene…tted from discussions with N. Gravel.

More information : http://www.college-etudesmondiales.org/en/content/welfare-economics-and-social-justice

Abstract

This paper proposes four concepts of exploitation that encapsulate common uses of the word in social interactions: unfair advantage, unequal exchange, using persons as means, free-riding. It briefly discusses how these concepts appear in the literature (the first two are prominent in Roemer’s classical work), and then examines how these forms of exploitation are related and how they can occur.

Keywords

exploitation, unequal exchange, Roemer

Résumé

Ce document propose quatre concepts d’exploitation qui capturent les usages courants du mot dans les interactions sociales: un avantage indu, l’échange inégal, l’utilisation de personnes comme des moyens, les passagers clandestins. Il aborde brièvement la façon dont ces concepts apparaissent dans la littérature (les deux premiers sont au centre de l’oeuvre classique de Roemer), puis examine comment ces formes d’exploitation sont liées et comment elles peuvent se produire.

Mots-clés

exploitation, échange inégal, Roemer

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Economics is not what you think: A defense of the economic approach to taxation

Musée Metz - Stèle Impôts - Par Fab5669 (Travail personnel) [CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia CommonsMarc Fleurbaey, Economics is not what you think: A defense of the economic approach to taxation, FMSH-WP-2012-10, may 2012.

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About the author

Marc Fleurbaey is Laurance S. Rockefeller Professor at the University of Princeton (USA). His research in economics and philosophy has been devoted to normative economics, distributive justice, and the evaluation of public policy. The main areas of application are the measurement of social welfare, climate policies, health prioritizing, and optimal taxation.

He has been professor of economics and CNRS researcher in France. He is the coordinating editor of Social Choice and Welfare and a former editor of Economics and Philosophy. He is a Coordinating Lead Author for the Fifth Assessment Report (2014) of the Intergovernmental Panel on Climate Change. He has been a member of the Stiglitz-Sen-Fitoussi Commission on the Measurement of Economic Performance and Social Progress. He has published Fairness, Responsibility, and Welfare (Oxford 2008) and A Theory of Fairness and Social Welfare (Cambridge 2011, with F. Maniquet), as well as many articles in welfare economics, public economics, and political philosophy.

The text

This text was written by Marc Fleurbay, Princeton University, who holds the Chaire entitled « Welfare Economics and Social Justice » at the Collège d’études mondiales.

More information : www.college-etudesmondiales.org/en/content/welfare-economics-and-social-justice

Abstract

In The Myth of Ownership – Taxes and Justice, Liam Murphy and Thomas Nagel (2002) launch an attack against a straw man, the economist who believes that taxation should minimally interfere with property rights and should seek to preserve the market distribution of wealth and income. Instead they propose an approach that focuses on the consequences of any form of public intervention for the distribution of welfare, without any particular ethical concern for the values emerging from the market. In fact, such an approach has been long developed by Mirrlees (1971), whose approach has been dominating the economics of taxation for the last forty years. But more recently the fairness approach to taxation goes beyond welfare consequentialism and attributes some value to market allocations, in line with the theories of justice proposed by Rawls and Dworkin.

Keywords

taxation, welfare, property rights, fairness, Mirrlees

Résumé

Dans The Myth of Ownership – Taxes and Justice, Liam Murphy et Thomas Nagel (2002) critique une supposée approche économique postulant que la fiscalité devrait porter atteinte de façon minimale aux droits de propriété et devrait chercher à préserver la répartition de la richesse et du revenu engendrée par le marché. Au lieu de cela, ils proposent une approche qui met l’accent sur les conséquences de toute forme d’intervention publique pour la distribution du bien-être, sans attribuer de valeur éthique particulière aux résultats du marché. En fait, une telle approche a depuis longtemps été dévelopée par Mirrlees (1971), dont l’approche a dominé l’économie et de fiscalité au cours des quarante dernières années. Mais, plus récemment, l’approche équitable de la fiscalité va au-delà d’un conséquentialisme étroit du bien-être et attribue une certaine valeur à la répartition marchande des ressources, en ligne avec les théories de la justice proposées par Rawls et Dworkin.

Mots-clés

fiscalité, bien-être, droits de propriété, équité, Mirrlees

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