There is a growing consensus among the scientific community that we need to drastically reduce greenhouse gas emissions in the very, very near future. I will leave it up to those who know more about atmospheric science to debate that point. If we take the claim to be true, then, as policy makers we want to decide on the best course of action to accomplish the goal. There are many ways to reduce emissions, and they are not at all mutually exclusive. In general, solutions revolve around forcing fewer emissions by regulation, using technology to require fewer emissions or lessen the impact of existing emissions, or using taxation and fee schemes to make it expensive to emit greenhouse gasses (The prevailing solution, up to the present, however, is to do nothing about emissions). One solution, in the eyes of economists, holds more promise for saving the world than any other–tradable emissions permits.
Tradable Permits: How to Save the World
Sometimes I forget that I have a photographic memory.
