Carbon Markets: Learning from the Past, Looking to the Future

Neo-classical economics tells us that markets reduce costs and increase social welfare. It also teaches that pollution not properly accounted for is a classic economic externality. That is, if clean air and clear water are not properly valued, degrading them reduces economic efficiency, impacts social welfare, and increases social costs. Pollution not-paid-for represents a market…


The Inexorable Shift of the US Power Sector

While the U.S. Supreme Court’s temporary stay on enforcement of the Clean Power Plan has grabbed headlines recently, it’s important that we read deeper, and consider the broader context, of which the CPP is only one part. In recent years, and in the last several months in particular, there have been foundational, even tectonic, shifts in…