Idiot/Savant disputed our claim that market mechanisms are the best way to fight climate change on pragmatic grounds – namely stating that a regulatory solution that works would be better than a “market-based” solution that does nothing. Now I don’t disagree with this – however, I do think that I/S heavily mis-represented both our claim, and our initial criticism of what he said.
As comments are disabled on I/S’s blog No Right Turn, I have to reply by way of a blog post
In this post, I/S makes a number of claims I would like to dispute:
- We accuse I/S of anti-market bias for considering regulation,
- We state that a market mechanism is always superior to regulation,
- The argument is whether regulation is better than nothing – not better than the ETS,
Now it is best to answer these claims backwards – lets start with 3: