Cap and Trade

It is one thing to support something imperfect but functional. But it is another thing to support something that is imperfect, decidedly non-functional, and that has the potential for additional destruction. The problem Lohmann and other critics of carbon trading recognize isn’t merely that it’s flawed, or that it won’t work, but that it actually introduces a new and uniquely social threat to the atmosphere: the legal right to pollute it.

Via Vu, a must-read piece on why cap and trade could be worse than doing nothing at all. The only sensible neoliberal policy option remains steep carbon taxation, but despite decades of evidence about what we're barreling towards the political will still isn't there.