Comments on: Highly recommended read on Waxman-Markey: The Cap-and-trade Bait and Switch http://knowledgeproblem.com/2009/08/24/highly-recommended-read-on-waxman-markey-the-cap-and-trade-bait-and-switch/ Commentary on Economics, Information and Human Action Mon, 21 May 2012 15:20:05 +0000 hourly 1 http://wordpress.com/ By: Politics as Usual with Cap and Trade | Conservation Blog http://knowledgeproblem.com/2009/08/24/highly-recommended-read-on-waxman-markey-the-cap-and-trade-bait-and-switch/#comment-9339 Fri, 04 Sep 2009 01:47:28 +0000 http://knowledgeproblem.com/?p=5281#comment-9339 [...] This post notes that the fear of many economists (that cap and trade would turn into give away that did little to rein in carbon) has come true. [...]

]]> By: Rhetorical http://knowledgeproblem.com/2009/08/24/highly-recommended-read-on-waxman-markey-the-cap-and-trade-bait-and-switch/#comment-9246 Tue, 25 Aug 2009 01:17:58 +0000 http://knowledgeproblem.com/?p=5281#comment-9246 Cap and trade requires a cap on the emission of concern in the market of concern. SO2 was realitively localized. CO2 as a contributor to global warming, as the name suggests, is not localized.

Hence, a U.S. cap and trade program for SO2 was successful, and I applaud it. In constrast, a balkanized, piecemeal cap and trade program for carbon will fail miserably. Miserably, that is, toward achieving the stated intention. Of course, many will become rich from the ill-fated effort and the government will expand to “manage” the program. And we will wake up in 20 years and wonder what went wrong.

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