Tax the rich — and save the planet | Esther Duflo

In this TED Talks Daily episode, economist Esther Duflo discusses the disproportionate impact of climate change on low-income countries, where increased temperatures lead to significant loss of life. She argues that wealthy nations, through their emissions, incur a moral debt of $1.7 trillion annually to poorer countries. Duflo proposes a solution: taxing the world's wealthiest individuals and multinational corporations to fund direct cash transfers to people in affected countries, which can be facilitated through mobile money accounts, particularly in Africa. This redistribution could serve as a "grand bargain," fostering trust and enabling these nations to commit to climate action.