John Quiggin

John, many would agree with MP Paul Gibson’s proposal that the NSW government should make Sydney public transport free in an effort to reduce the growing traffic congestion. Thumbs up.

I found this on TOD. It’s an article about ‘Cap and Dividend.’

http://news.yahoo.com/s/mcclatchy/20090419/pl_mcclatchy/3213792_1;_ylt=Anqvd7DW5B9vVW0biOR_n33HSpZ4

Companies would have to buy their allowances under a Cap and Dividend as opposed to being given their allowances under Cap and Trade.

The idea was born out of the fear that markets would distort a Cap and Trade. Sounds like an improvement to me. May even be better than a carbon tax.

Wow, that’s the John Holmes of internet addresses.

No. 1 is written in Paul Gibson’s office. Thumbs down.

“Extraordinary,” said Blinky Bill.

Salient Green’s post at #2 has a link to some food for thought about corruption of the carbon market. Here’s an excerpt.

“‘The Europeans already have created a cap-and-trade market for carbon dioxide emissions. Credits are being bundled by financial institutions such as Credit Suisse and sold to investors in much the same manner as mortgage-backed securities and other exotic financial products whose collapse helped lead to the global financial crisis,’ Cantwell said.”

I wonder if people still think such warnings are a red herring?

Any chance you’re thinking of setting up as an rss feed?

D’oh! The RSS feed broke again. Fixed now, I hope.

6#

“Salient Green’s post at #2 has a link to some food for thought about corruption of the carbon market.”

I agree. So people go mad over green bundled carbon cap debt instruments……oh great…..just great….what a waste of energy.

Back to my original thoughts that there is simply too much money flowing into the finacial markets when they can gamble on two ants crossing a road….

For once I might find myself agreeing with Friedman (just for once) “too much money chasing too few…..financial investments” (last two words adapted to modern times).

result = inflation in investment assets…any assets …even carbon controls.

ProfQ,

Has your research changed your personal political view (incl. economic policy) or did your research confirm your political/macroeconomic view?