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Opinion
Paul J. Ferraro

The Free-Market Case for Climate Science

If there were any good evidence that people’s carbon emissions have not warmed the Earth, it would be widely known by now.
Science has figured this out.

Science has figured this out.

Photographer: LIONEL BONAVENTURE/AFP/Getty Images

Are you someone who has faith in the power of free markets? Then you should naturally accept the evidence that human activity is bringing about climate change.

Free and competitive markets work efficiently in large part because they are phenomenal information aggregators, gathering and sorting facts about consumer preferences and business production costs, and guiding market participants to engage in actions that provide benefits to both sides. Markets can easily help figure out the most efficient way to deliver coffee to people’s homes, for example, or to reduce air pollution in cities. Markets also determine which ideas succeed (the iPhone, for instance) and which ones fail (Kool Kardashian Kard).