How To Pay for Everything


How to pay for everything: Monetize the air.

The idea of emissions trading goes back more than 100 years to Alfred Marshall, a British economist, and Henry George, a US contemporary. Their insight was that assigning property rights to the environment was a good way to protect it. Unless someone owns the environment, polluting it – in the absence of state regulation – is costless. Of course, governments can step in and simply outlaw pollution, and often do so.    — Financial Times, 2007


Further Reading: Emissions trading – history of an idea