America's natural gas revolution has led to increased coal exports. What are the implications for climate change? We asked Stanford University Professor Frank Wolak, director of the Program on Energy and Sustainable Development.
Focusing on externalities distracts economists from understanding how bargaining can solve problems without government intervention.
The death this week of Ronald Coase, one of the world's most-cited economists, comes at a time when there is lively debate about the very issue he raised: why neither markets nor government are panaceas.
Irrespective of the uncertainties surrounding the causes of climate change, the United States is poised to join the rest of the developed world in a fight against rising carbon dioxide levels.