Global climate change, largely the result of carbon emissions brought about by a global economy addicted to fossil fuel and committed to economic expansion, threatens the very viability of the economy that causes it. The relatively cheap price of fossil fuels does not account for the costs to...

Congress is likely to consider domestic climate change legislation during 2009, with a cap-and-trade system continuing to draw support from the Obama Administration and many leaders in Congress. Yet cap-and-trade regulations would take years for EPA to develop and implement, the desired price...

The carbon tax is a major instrument for curbing greenhouse gas emissions that cause global warming. Yet its adoption has been limited because of concerns over its effects on economic growth, income distribution, and international competitiveness. The paper shows that policymakers can minimize...