The Political Economy of Carbon Trading
Donald MacKenzie: A Ratchet, 5 April 2007
“... 1990, which introduced sulphur dioxide trading. Economists such as MIT’s Richard Schmalensee and Robert Stavins of Harvard’s Kennedy School also became involved. They didn’t simply advocate a cap and trade scheme, but helped it gain political acceptance. The 1990 legislation differed from what economists might have wanted in two respects. First, there ... ”