I agree with almost everything Matt Yglesias says here about the Chamber of Commerce and their stance on climate change, particularly in the context of the departure of high profile companies like Apple from the Chamber. I don't see how opposition to climate change policy can be in the interests, even short term, of their corporate stakeholders.
The fundamental problem the Chamber of Commerce is going to have on this is that they’re really really wrong. Not like how they’re morally wrong about, say, labor rights or workplace safety rules. They’re analytically mistaken about the interests of the United States business community. If we take action to avert ecological catastrophe, economic growth will still happen. Capitalism will march on. Big companies will be big, and people will earn lots of money managing them. Yes, the present-day owners of coal companies or manufacturers specifically wedded to unusually energy-intensive processes will be in trouble. But “business” in a broad and general sense will keep on keeping on. People will still want gadgets and furniture, will shop at stores, will buy and sell, and generally keep being customers for business.
The real risk is being run by doing nothing. It’s doing nothing that might end the party, and lead to various kinds of nightmare scenarios. And over time, more and more firms are going to see that they have no particular stake in underpricing pollution. One maybe of the Chamber board is a guy from Anheuser-Busch. A serious climate bill’s not going to put him out of business. Nor, to just pick board affiliated companies whose lines of business I recognize, is it going to put State Farm Insurance or IBM or AT&T or Pfizer or Accenture out of business. But the executives at those companies and their kids and their customers are all going to face all the problems caused by untrammeled climate change. And why, genuinely, should a pharmaceutical company or a telecom company be fighting to stop people from stopping an ecological disaster? It genuinely doesn’t make sense.
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