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Oven-ready climate change plan turns up the heat on polluters

Coal-fired power station Plant Scherer in Georgia
Coal-fired power stations such as Plant Scherer in Georgia face being taxed out of viability under a new US plan Credit: Branden Camp /AP

Economics are at the heart of a US initiative that would tap market forces to promote a greener future

In deference to Christmas optimism, here is a beautifully simple answer to global climate change, backed by 27 Nobel economists and the United States policy firmament from Keynesian Left to Monetarist Right.

It is guided by market principles. It reduces the role of the state. It does not shaft the poor. It is easy to enforce. It is oven-ready, to borrow the phrase du jour.

This initiative by the Citizens Climate Lobby has the support of Democrats and Republicans in Congress. It has been endorsed by Alan Greenspan, the late Paul Volcker, and Nobel laureate Myron Scholes in the free market camp,...

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