Professor Sloan School of Management
‘Cash for Clunkers’ can cut gas prices, climate change—and Putin’s income
John Sterman and David Keith (MIT Sloan) propose “Cash for Clunkers” program in which new car buyers are paid to scrap their combustion vehicles. Incentivizing decommissioning vs. reselling old combustion vehicles would speed vehicle retirement, cut U.S. oil consumption, accelerate the transformation of the transportation sector, increase consumer choice, and help achieve climate goals.
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