THE CARBON MARKET: ARTIFICIAL PRICING, BUREAUCRATIC BARRIERS AND ECONOMIC INEFFICIENCY
DOI:
https://doi.org/10.56238/revgeov16n4-024Keywords:
Carbon Market, Artificial Pricing, Transaction Costs, Austrian School of EconomicsAbstract
The carbon market was created as a mechanism to internalize the negative externality of greenhouse gas (GHG) emissions by promoting the commercialization of carbon credits. However, its structure presents significant flaws, especially regarding artificial pricing, high transaction costs, and bureaucratic barriers. The pricing of carbon credits does not reflect real scarcity, as it depends on political regulations and government interventions, leading to volatility and market distortions. Furthermore, mechanisms such as the Clean Develepment Mechanism (CDM) require complex certification processes that restrict market access to large corporations, excluding small producers and developing countries. From the perspective of the Austrina School of Economics, the carbon market is an artificially created market as an effective tool for mitigating climate change and suggestes alternatives based on technological innovations and decentralized solutions.
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