A small niggle: I think the author misses the point on carbon tax. Not having a carbon tax literally acts as subsidy. It is not a metaphor. In polluting, you are exploiting a resource you do not own, and not paying for that exploitation is quite literally a subsidy under a just and fair economic system. It is an intervention from the baseline of a properly functioning market (one that stops people selling things they do not own).<p>They also seem confused, each country should pay roughly for its own global emissions impact. The coordination problem is that if one country pays but the others don't, then the paying country's industry might be outcompeted by other counties industries (who don't pay this just tax).