Matsushima Hitoshi, Professor, University of Tokyo   Key points Utilizing Uzawa Hirofumi’s “social common capital” concept Redesigning negotiation rules to guide active cooperation among countries Changing citizens’ attitude of wanting to avoid carbon taxes also necessary   The world has become interested in thinking about economic development in relation to the global environment and social issues. How can we lead affluent lives, develop excellent culture, and make a humanly attractive society sustainable? Humanity has begun to explore a shift change from capitalism to address this important issue. As social responsibilities, commercial enterprises need to reduce the social costs of their own economic activities. Adding hazardous substances to food or discarding plastics causes negative externalities. This cannot be resolved unless the parties concerned eliminate the causes by themselves. The role of government capable of enforcement is important in resolving externalities, with environmental tax … Continue reading A New Perspective on Global Warming Countermeasures: A Worldwide Carbon Price Target