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42

Everybody's Favorite Law

The Vulgar Empiricist

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on the uselessness of cap and trade programs

, J. (2017). Everybody's Favorite Law. Jacobin, 26, pp. 42-45

43

Cap and trade doesn't disciple capital; it coddles it. It does alarmingly little to force a sharp break from fossil fuel dependence. In fact, it actually establishes barriers to the comprehensive zero-carbon transition we need by giving big emitters an easy out. Instead of making the big, risky investments necessary to ditch carbon-intensive technologies outright, they can simply purchase cheap offset credits from other countries, deferring the vital work of building a carbon-free future.

"discipline" I think

—p.43 by Jacobin 3¬†years ago

Cap and trade doesn't disciple capital; it coddles it. It does alarmingly little to force a sharp break from fossil fuel dependence. In fact, it actually establishes barriers to the comprehensive zero-carbon transition we need by giving big emitters an easy out. Instead of making the big, risky investments necessary to ditch carbon-intensive technologies outright, they can simply purchase cheap offset credits from other countries, deferring the vital work of building a carbon-free future.

"discipline" I think

—p.43 by Jacobin 3¬†years ago