Pricing Pollution

Over the past few years, a debate has raged in Washington about whether the government should restrict carbon emissions in order to reduce the risk of climate change. In the course of that debate, “cap-and-trade” has made its way into the public vocabulary, even transforming into something of a political catchphrase. Many people now associate the term with activists and politicians who demand far-reaching measures to address what they believe is a looming, and serious, threat to the environment.
http://www.brookings.edu/research/articles/2011/01/pricing-pollution-gayer