Stabilizing effective demand assists business planning ... why, that is an argument that, without ever stating it, the Economist has been campaigning against for decades.

Hypocrite twice over ... I reckon it means that the Economist is confident that serious carbon taxes will remain on the drawing board, while there is actually a threat that serious auctioned permit cap-and-trade could get put into place somewhere.

And then the next step is a carbon offset tariff on nations that are not pursuing effective carbon reduction programs and, shock, horror, we would have the twin evils of an effective government policy and an effective sanction against a global race to the bottom on carbon emissions.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.