Alan Blinder is an economist of international reputation and, as I recall, author of a perfectly serviceable college econ textbook in the '80's.
He also penned a provocative Op-Ed in yesterday's WSJ, "The Carbon Tax Miracle Cure."
I wonder what kind of grade Professor Blinder would give to one of his Princeton students if this essay had shown up in his 'in' box; its argument appears to be missing some critical bits of logic.
Blinder proposes that the U.S. adopt a tax on carbon dioxide, which would start off small at $8 per ton and slowly ramp up over a few decades to $200 per ton. Expressed in gasoline terms, these correspond to 8 cents and $2.08 per gallon.
Blinder sees a number of benefits from this tax: