{"id":250,"date":"2010-12-10T12:00:45","date_gmt":"2010-12-10T17:00:45","guid":{"rendered":"http:\/\/blogs.edf.org\/markets\/?p=250"},"modified":"2010-12-10T11:55:18","modified_gmt":"2010-12-10T16:55:18","slug":"environmental-economics-saved-christmas","status":"publish","type":"post","link":"https:\/\/blogs.edf.org\/markets\/2010\/12\/10\/environmental-economics-saved-christmas\/","title":{"rendered":"How environmental economics saved Christmas"},"content":{"rendered":"

Art Carden has a great piece on the Grinch saving Christmas<\/a>,<\/p>\n

using Pigouvian taxes and the bargaining business.<\/p>\n

But it reminds us again that even Coase missed the mark,<\/p>\n

when it comes to things outside of Whoville’s small arc.<\/p>\n

So to Art’s welcome take on a Yuletide tradition,<\/p>\n

We humbly append a climate-change addition:<\/p>\n

Since Whoville Whos\u2019 chanting\u00a0affects only the Grinch,<\/p>\n

Bargaining is the solution that works in a pinch.<\/p>\n

Climate’s a problem that affects the whole planet,<\/p>\n

Coasian bargaining is much too small to span it.<\/p>\n

A price on carbon is the better path,<\/p>\n

all we need now is the political math.<\/p>\n

Failing that, to be sure, we have the EPA,<\/p>\n

not a first-best choice, still it may win the day.<\/p>\n

To save the world’s Whovilles, we need a solution<\/p>\n

that in the end puts a firm limit on carbon pollution.<\/p>\n

Cap and trade is the most certain way<\/p>\n

to give every Who joy on this and future Christmas Days.<\/p>\n","protected":false},"excerpt":{"rendered":"

What if the Grinch had used economics to try to crush the Whoville Whos\u2019 Christmas spirit?<\/p>\n","protected":false},"author":850,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[325,330],"tags":[],"coauthors":[],"class_list":["post-250","post","type-post","status-publish","format-standard","hentry","category-cap-and-trade","category-politics"],"acf":[],"yoast_head":"\nHow environmental economics saved Christmas - Market Forces<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blogs.edf.org\/markets\/2010\/12\/10\/environmental-economics-saved-christmas\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How environmental economics saved Christmas - 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