In a proposal with all the economic rationality of developed world agricultural subsidies that pay farmers not to farm, Ecuador has seriously proposed that it be paid $350 million per year not to develop one of its oil fields as a contribution to alleviate global warming. According to the article “countries like Italy and Norway, as well as international foundations, the Inter-American Development Bank, the United Nations and universities in the United States have voiced interest in the Ecuadorian proposal.”
I have a better proposal. I think that the Inter-American Development Bank ought to pay everyone in the United States to agree to spend every Thursday sitting around the house watching television instead of going to work or engaging in any other activity. Think of the reduction in US GDP that this would create. Given the carbon emissions elasticity of the US economy, this would result in a massive abatement of emissions of greenhouse gasses. I’ll agree to do this for $1,000 per week.