Image credit: Good
Good highlights a recent debate that raged in the editorial section of the New York Times. On the one side was James Hansen, NASA scientist and cap and trade critic. On the other was Paul Krugman, popular essayist and cap and trade advocate.
Their disagreement, Good argues, presents an excellent opportunity to introduce a third option: Cap an Dividend.Under such a plan, a cap is placed on "first producers" of emissions. The inevitable cost this creates for the consumer is then returned in a quarterly or annual dividend check. It would, in theory, place money directly into the bank accounts of anyone with a social security number, much like the Alaskan Permanent Fund does.
Good asks: "The public could get behind that, right?"
Read more at GOOD.is
More about cap and dividend:
Climate Expert James Hansen Supports Cap-and-Dividend System
Bill McKibben on Why Cap-and-Dividend is the Best Approach to Setting a Price on Carbon
Do Cap-and-Trade and Carbon Tax Advocates Both Miss the Point of How to Best Beat Global Warming?