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Perverse Subsidies: Taxes Undercutting Our Economies and Environments
Perverse Subsidies Taxes Undercutting Our Economies and Environments Author:Norman Myers, Jennifer Kent Excerpt from the Executive Summary: Subsidies are a prime feature of our economic landscape. That much is well understood. Not so widely recognized are "perverse" subsidies, definable here as exerting adverse effects on both the economy and the environment in the long run. This report documents the problem of perverse subsidies in five main subs... more »idy sectors: agriculture, fossil fuels/nuclear energy, road transportation, water and fisheries. Total subsides in these sectors, plus a few others, have long been thought to be around $1 trillion worldwide per year, which means that subsidies play a prime role in the functioning of the global economy. If perverse subsidies amount to a sizeable proportion of subsidies overall, they exert a significantly distortive impact on the global economy.« less