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The Big Picture

Climate Change Under Capitalism

Free markets may be the most effective mechanism for delivering the most welfare to the most people, but they are notoriously bad at supplying public goods. And reduction of planet-warming greenhouse gases has become the most essential public good of all.

A chemical and mineral oil storage facility is seen at Hamburg Port Morris MacMatzen/Getty Images
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Chinese workers push a section of panels into the water Kevin Frayer/Getty Images
A general view of the Crimean bridge Mikhail Svetlov/Getty Images
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