Frequent-flying “super emitters” who represent just 1% of the world’s population caused half of aviation’s carbon emissions in 2018, according to a study. From a report: Airlines produced a billion tonnes of CO2 and benefited from a $100bn subsidy by not paying for the climate damage they caused, the researchers estimated. The analysis draws together data to give the clearest global…
Tag: bailouts
Covid-19 Killed the Era of ‘Big’ Flying
COVID-19 has shattered the aviation industry, with nations closing their borders and banning all but essential travel. A world where people could hop from country to country is now one where empty planes travel to maintain contractual obligations. Major carriers, including American, IAG, Delta and Lufthansa have all asked for government bailouts. From a report: One airline that will receive a…
is a ‘Debt Jubilee’ The Only Way to Avoid a Depression?
The Washington Post just ran an interesting op-ed from a research professor of economics at the University of Missouri:
Massive social distancing, with its accompanying job losses, stock dives and huge bailouts to corporations, raises the threat of a depression. But it doesn’t have to be this way. History offers us another alternative in such situations: a debt jubilee. This slate-cleaning, balance-restoring…