Wednesday, April 1, 2009

Mispriced risk.... to the environment

Thomas Friedman draws some nice parallels between the US approaches to global warming and finance. He argues (convincingly) that the risk on financial instruments and on carbon-producing industries were badly mispriced. He uses that argument to call for more regulation on the financial sector, as well as a cap-and-trade system for carbon-producers. Sounds good to me.

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