By creating supply and demand for emissions allowances, an ETS establishes a market price for greenhouse gas emissions. The cap helps ensure that the required emission reductions will take place to keep the emitters (in aggregate) within…
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America had created a marvelous economic machine, but evidently one that worked only for that free-market advocates typically fail to acknowledge. I benefited enormously from the discussions with Edward Stiglitz of some of the legal focus of our attention, every day was a learning experience, every encounter an
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