You guys are too much. Thanks for the plug. Hey, do I still have blogging privileges on your site? How about an interview with my publicist, that I write myself?

Art Carden has a great piece on the Grinch saving Christmas, using Pigouvian taxes and the bargaining business. But it reminds us again that even Coase missed the mark, when it comes to things outside of Whoville's small arc. So to Art's welcome take on a Yuletide tradition, We humbly append a climate-change addition: Since Whoville Whos’ chanting affects only the Grinch, Bargaining is the solution that works in a pinch. Climate's a problem that affects the whole planet, Coasian bargaining is much too small to span it. A price on carbon is the better path, all we need now is the political math. Failing that, to be sure, we have the EPA, not a first-best choice, still it may win the day. To save the world's Whovilles, we need a solution that in the end puts a firm limit on carbon pollution. Cap and trade is the most certain way to give every Who joy on this and future Christmas Days.

The real question is whether we will run out of atmosphere before we run out of oil, coal, and gas. The evidence on that is clear. And the solution is, too. To quote one Tim Haab: "But there WILL be alternatives, forced by higher prices--and no other mechanism is that powerful."

WH, thanks for your note. No, the planet most certainly didn't notice CCX. The emissions reductions that did occur were puny compared to what's necessary to make a difference. That's the point: volunteerism won't do for this one. It's a rounding error at best, counterproductive at worst.