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James Boyce: Carbon Pricing as Property Creation

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Dr. James Boyce, Professor, University of Massachusetts Amherst, discusses how carbon pricing - via a carbon tax or a cap-and-permit system - transforms the carbon absorptive capacity of the biosphere from an open-access resource into a form of property. Consumers would pay for their use of this scarce resource based on their carbon footprints. James asks a key question - who should own this new property and get the money: corporations, the government, or the public?

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