A Carbon Tax Is Pretty Much Inevitable, Even if Voters Said No
View on Wired website"'In textbook economics, you set the price equal to the marginal damages, and that gives you a cost-efficient reduction in the damages caused by the externality,' says Marc Hafstead, director of the Carbon Pricing Initiative at Resources for the Future. It’s a little more complicated than that, Hafstead allows, because emissions are global and it’s hard to pin down exactly what the marginal damages are, but the basic idea is, if you tax emissions, people will emit less to avoid paying the tax wherever they can."
