New Climate Strategy
Buy the damn coal and keep it in the ground.
I concluded my last post with a slogan: “Keep the damn coal in the ground.” Lo and behold, along comes a new paper in the Journal of Political Economy that sketches what that strategy might look like: “Buy Coal! A Case for Supply-Side Environmental Policy.” It’s fascinating.
Climate change is an enormous collective action problem. Typically the focus has been on demand-side policies — reducing fossil fuel consumption through taxes or mandates. Any “climate coalition” that adopts this strategy, however, has to worry about free riders that don’t.
To keep reading, click here.