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The inevitable outcome of Labor’s Soviet-style climate plan

The inevitable outcome of Labor’s Soviet-style climate plan

If we really want to do something meaningful and effective in reducing emissions, we’re going to have to make use of the magic of the market.

Rejecting the power of markets is likely to mean we miss even the lower end of the 2035 target range.  

The great French mathematician Joseph Fourier first identified the “greenhouse effect” in 1824. And 72 years later, Swedish scientist Svante Arrhenius quantified the impact of atmospheric carbon on global temperatures, and pointed to the role of fossil fuels in so doing.

Sure, it wasn’t until NASA director James Hansen’s 1988 US Senate testimony that the concept of “global warming” entered the zeitgeist. But scientists have known about human-made climate change for a couple of centuries.

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Richard Holden
Economics professorRichard Holden is scientia professor of economics at UNSW Business School. Connect with Richard on Twitter.

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Original URL: https://www.afr.com/policy/energy-and-climate/the-inevitable-outcome-of-labor-s-soviet-style-climate-plan-20250922-p5mwwe