Watch and learn
Posted by Daniel Hall on December 6, 2007
He saved his best comment for the end of the interview:
The problem for climate change hinges on very long-term accumulations of gases in the atmosphere. And so in the short run hitting a particular emissions target may not be as important as a price, both from the political salability, but also from the adjustment cost to the economy of having a huge jarring effect if we had a high price, and more importantly driving technology. So I tend to think that over the short run there probably should be more emphasis on prices and over the longer run more emphasis on emissions.