I feel more confident than ever that the power to save the planet rests with the individual consumer.
There are a few obvious consequences and perhaps one subtle possibility. One obvious thing is that, to stimulate the economy, President Obama has committed to creating millions of green jobs that will leave a legacy - much as Roosevelt's public works did during the new deal.
he economy favors throughput over quality and craftsmanship, and economists are terrified because the American savings rate has crept upward from about zero to almost five percent. But the mortgage crisis and the burgeoning credit card crisis are causing Americans to become wary of irresponsible debt.
We need a firm cap on carbon emissions from fossil fuels. No coal, oil, or gas could enter the economy until the buyer had a permit. All permits would be auctioned by the federal government, and the number of permits auctioned would be decreased by three percent per year. Permits could be traded, but they could not be created out of whole cloth by companies that plant forests or dump iron filings at sea.
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