Economists Who Invented Cap-And-Trade Say It Won’t Work for Global Warming

I have repeatedly argued that – no wonder what you think about climate change – carbon trading (a type of cap-and-trade scheme) is a scam.

Now, according to the Wall Street Journal, the economists who invented the entire cap-and-trade concept say it probably won’t work in regards to climate change.

Whatever you think about global warming, carbon trading is a scam which will only create a new profit-making machine and speculative bubble for Goldman Sachs, JP Morgan and the rest of the boys who caused the financial crisis.

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  • love this blog, but dont know where to stand on cap/trade..or much about the workings therein. i did recently read about Europes system finally paying off (by Brian Merchant) sounding positive for/in the long term. but it also reads like a 1up to anyone whose called it out in the past. so it might be a short-sigted victory that plays out like a 'profit-making machine' ..sorta like the water-for-profit monopoly in the third world thats come to my attention recently too. thanks!

  • Just another Bubble machine.

  • One of the greatest environmental minds of the last 100 years, James Lovelock, says the exact same thing:

  • There are fundamental problems with cap and trade, the biggest being that Developing countries, and China/India get a free ride. The western economies in essence will be punished for their past success. There are other ways to resolve the issue.

  • not to shoot you down -Raemius, but i can assume that western success has been well doocumented with the environmnetal degredation. in whatever form we balance the scale back towards hospitable – the west can afford to admit pioneering if not perfecting alotta forms of pollution. id hope, that if its viable, we can pay down our part of the tab (before forcibly advocating it in developing countries).