Market-based solutions to environmental problems offer great promise, but require complex public policies that take into account the many institutional factors necessary for the market to work and that guard against the social forces that can derail good public policies. Using insights about markets from the new institutional economics, Blas Luis Pérez Henríquez sheds light on the institutional history of the emissions trading concept as it has evolved across different contexts. It makes accessible the policy design and practical implementation aspects of a key tool for fighting climate change: emissions trading systems (ETS) for environmental control.
“Politics, economics,and technology have conspired to make this an exceptionally challenging time for American higher education,” writes Dean Henry E. Brady in a paper published by Columbia University Press. We must continue to defend universities for their role in creating new knowledge, expanding our understanding of ourselves, speaking truth to power, and serving as the cathedrals of civilization. But we live in a pecuniary age with real pressures on the American middle class and on state governments. We must show that we are doing everything possible to improve learning and to control costs.” Read the full paper here.
“The affluent and well-educated have participatory megaphones that amplify their voices in American politics,” says Dean Henry Brady, linking political polarization and economic inequality. In response to those who speak the loudest—by virtue of their extreme political views and their wealth and education—politicians often take positions on far from the center of political opinion. Public policies, in turn, deal disproportionately with the concerns of those with wealth and education and must contend with the polarized views of well-off Democrats and Republicans.