The textbook economics of cap-and-trade [NY Times]
I realized, after the last post, that it might be useful to write down just what the Econ 101 version of cap and trade looks like; as it happens, this also helps explain the intellectual sins of Glenn Beck and Martin Feldstein.
I am currently writing a paper with someone who is also the co-author of two of Krugman's ex-PhD students (from many years ago). Does that count for anything?
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