WE ARE ALL NEOCONOMISTS NOW:

This morning, the White House released a massive report on the effects of climate change. In sum: The problem is already bad, it is going to get worse, and we need to address it quickly. The science of greenhouse gas emissions and climate change may be clear (though, of course, always evolving). But the policy response is far murkier.

Yet there is a relatively simple solution, based on the old economic maximum: If you want people to do less of something, raise the price. In this case, if you want people to use less carbon-emitting fuel, tax it--a lot.

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