Argument: Cap-and-trade systems are susceptible to corruption

Support

William Nordhaus, 3/27/06, “After Kyoto: Alternative Mechanisms to Control Global Warming” – Wrote that a cap-and-trade system is “much more susceptible to corruption” than a carbon tax systems.

Ronald Bailey, “Carbon Taxes Versus Carbon Markets, What’s the best way to limit emissions?, May 24, 2007 – “A carbon tax also offers less opportunity for corruption because it does not create artificial scarcities and monopolies.”