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My own view is that there basically is no alternative to a market solution. The reason is, if you look around, who are we talking about that’s going to solve the problem: it’s you and me. There are billions of individuals, millions of firms, thousands of governments, hundreds of nations, and for them to take action, they’re going to have to have incentives. The kind of incentives we’re talking about; they’re not speeches - we can sermonize all day - but the incentives of market prices. raise the prices of goods and services that are carbon intensive, and to lower the ones that are less carbon intensive. (en) |
