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1. Arms Away

Author:
Ethan B. Kapstein and Jonathan Caverley
Publication Date:
10-2012
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
For two decades, the United States has dominated the global arms trade, reaping a broad range of economic and geopolitical benefits in the process. But shortsighted decisions to produce expensive, cutting-edge weapons systems, rather than cheaper, more practical ones, are squandering this monopoly and letting other countries get into the market.
Topic:
Markets
Political Geography:
United States

2. The Low-Carbon Diet

Author:
Joel Kurtzman
Publication Date:
09-2009
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
The global economic crisis has battered the free market's reputation, but the market nevertheless remains a powerful tool both for allocating capital and for effecting social change. Nowhere is this truer than with the challenge of confronting and reversing climate change. Of all the market-based tools available for addressing this problem, the most potent are cap-and-trade systems for greenhouse gas emissions. In their most basic form, cap-and-trade systems work by making it expensive to emit greenhouse gases. As a result, the owners of an emissions source are motivated to replace it with something less damaging to the environment. If they are unable to, the trading provisions allow them to purchase permits to continue emitting until they are ready to invest in new technology. Over time, as the amount of carbon allowed into the atmosphere is reduced, the price of a permit is expected to increase. In existing cap-and-trade mechanisms, such as the European Union's Greenhouse Gas Emission Trading Scheme, governments cap the total amount of emissions allowed, and the amount of emissions permitted declines over time. Organizations such as utilities, factories, cement plants, municipalities, steel mills, and waste sites are given or sold permits that allow them to emit a certain portion of the relevant region's total greenhouse gases. If an organization emits less than its allotment, it can sell the unused permits to entities that plan on exceeding their limits. Under cap-and-trade systems, companies can trade permits with one another through brokers or in organized local or global markets.
Topic:
Climate Change and Markets

3. Free Markets, Free Muslims

Author:
Jon B. Alterman
Publication Date:
11-2009
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
No abstract is available.
Topic:
Markets
Political Geography:
Dubai