Conserving the Environment | Emissions Trading Does Not Protect the Environment

. . . the IPUAIC was a creature of the smog, born of the need to give those working to produce the smog some hope of a life that was not all smog, and yet, at the same time, to celebrate its power. —Italo Calvino, “Smog,” 19581

Since the beginnings of the Industrial Revolution, corporate managers have sought to obscure the social and environmental impacts of pollution. Like Calvino’s bedraggled editor of a fictional trade journal improbably named Purification— the organ of an industry-sponsored Institute for the Purification of...

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