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Challenges to the Economic Approach:

The Case for Market Intervention

Free Market Strategies

Emissions trading: Cap and Trade

Economic Adaptation

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 Free Market Strategies to Confront Global Warming: Emissions Trading and Carbon Taxes


The evidence for human caused global warming has been increasing and the movement  to address carbon and other greenhouse gas emissions is gaining momentum.  With Al Gore's 2007 visit to Congress to lobby for change and the consequent surge in carbon mitigation bills being formed, it is clear that action will happen.  The question is what. 

All of these upcoming bills use some form of market based scheme to create incentives and programs that encourage movement from fossil fuels to less carbon intensive solutions.  The importance of understanding the mechanisms and theory behind these proposals will become critical as proposals begin to be seriously implimented.  Fortunately, many of the mechanisms that these bills use are not new and have been used in other circumstances.  This website seeks to provide an overview of the theory behind the most prominant of free market mechanisms: Carbon taxes and emissions trading and attempts to explain some of the critical variations and advantages of each.  Hopefully this will provide a basis for those who are unfamiliar with these strategies.  Thanks!


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Last updated:  2/2/2006

 


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Comments and questions to awerth@macalester.edu