On Feb 6, 2009, at 10:40 AM, Jim Devine wrote:
I wonder: does this take into account such things as banning mountain-top removal by US coal companies (a good idea)? having different pro-environment policies might complicate the idea of "international harmonized carbon taxes."
As I recall, no. Nordhaus's point is that if you try to regulate quantities, prices become more volatile, and it'd be much better for policy and investment planning if carbon prices rose at a steady and predictable rate, rather than bouncing all over the place as they do under a cap-and-trade system.
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