Shi-Ling Hsu weighs the merits of the four major approaches to curbing CO2: cap-and-trade; command and control regulation; government subsidies of alternative energy; and carbon taxes. He does not claim that a tax is the perfect or only solution-but that unlike the alternatives, it can be implemented immediately and paired effectively with other approaches.

Hsu deftly explores the social and political factors that prevent us from embracing this commonsense approach. And he shows why we must get past our hang-ups if we are to avert a global crisis.