Equal per capita carbon dividends and the waste objection.

Recycling carbon revenues as Equal Per Capita Carbon Dividends (ECDs) is thought to neutralise the two main objections to carbon pricing, namely that it is regressive and that it hinders the poor from meeting basic needs. This article focuses on the waste objection to carbon pricing <italic>plus</italic> ECDs. If the rationale for ECDs is to protect the consumption of the worst off, why pay carbon dividends to the rich as well? I examine three different normative arguments in favour of ECDs. First, the argument of common ownership of the atmosphere, which can be based on both libertarianism and isolationist egalitarianism. Second, the argument that the rich are net contributors to ECDs through their carbon taxes. Third, a consequentialist argument focusing on the pragmatic advantages of ECDs, especially in terms of social acceptability and low information costs. I conclude that none of these arguments can provide a normative justification for ECDs. [ABSTRACT FROM AUTHOR]