Top U.S. Economists Unite: Take Action Against Trump’s Environmental Policies

Three prominent U.S. economists are speaking out against changes to environmental laws under the Trump administration. They argue that rolling back these regulations contradicts basic economic principles of resource allocation.

Catherine L. Kling, Stephen Polasky, and Kathleen Segerson emphasize that dismantling environmental protections is likely to harm economic efficiency. They warn that such policies pose risks not just to Americans, but to people worldwide. In a recent article in Environmental and Resource Economics, they encourage their fellow economists to address these issues from an economic viewpoint.

They point to significant policy reversals, such as:

• Withdrawing from the Paris climate agreement
• Ignoring climate change’s impact on public welfare
• Promoting fossil fuel production over sustainable energy sources
• Cutting funding for environmental research
• Reducing regulations on harmful substances in drinking water

The economists stress that robust scientific support and clear communication are essential. They believe that economists can guide the public and policymakers on the importance of effective environmental policies. They note that investments in clean water provide greater economic benefits than costs, and they argue that supporting fossil fuels overlooks the environmental damage these industries cause.

Interestingly, a recent report by the International Renewable Energy Agency (IRENA) highlights that wind and solar energy have become the most cost-effective energy sources in the U.S. This demonstrates a shift towards renewables and emphasizes the potential for a more sustainable economic future.

Despite these findings, scientists are facing threats to their funding and positions. For instance, the Environmental Protection Agency plans to eliminate its scientific research office, which could significantly impact public health and environmental safety.

Alistair Munro, an expert in environmental policy, believes that this is an urgent moment. “Regulators in the UK and Europe must now bolster their support for science-based environmental protections,” he says.

In a time when political scrutiny of science is intensifying, the call from these economists to reaffirm the value of environmental regulations becomes all the more critical. By championing sound policies, they aim to protect both the economy and the environment for future generations.

For more insights on the economic implications of environmental policies, you can refer to this article in Environmental and Resource Economics here.

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