ABSTRACT
Can we expect freely operating markets or other economic incentives to solve the problem? I don't think we can be optimistic. Conventional economic analysis has all sorts of trouble with global warming. It has helped to design the trading mechanisms that allow institutions to participate in the Emissions Trading Scheme (ETS), and it has made clear progress in helping to quantify the costs of climate change. Economists have also made robust and accurate critiques of some of the more bizarre extrapolations of energy trends contained in the scientific work on global warming. 70
