The ugly truth about cap and trade and all similar schemes is that they do not really reduce carbon emissions, if most other factors remain the same, Joaquin Flores writes.
The failure of the UN’s COP26 conference in Glasgow was spectacle of hypocrisy befitting of a moribund ruling class. These kinds of antics harken back to the decline and fall of the Roman Empire, where its decadent ruling class was deadly out of touch with the causes of growing decentralization and dissatisfaction in the periphery. And so taking our historical analogy further, we may begin to unwrap an epochal catastrophe which today’s elite now faces.
The transition from the Roman imperial system, through the Carolingian period, into to the system of medieval Europe, saw a continual decentralization of power, and the evolution of slaves and serfs into land-owning peasants.
This economic decentralization was connected to localized power structures. Roman forts thereby formed the basis of the medieval system of castles, and the relative weakness of these lords and little kings correlated to an improvement in the rights and economic power of what became the small land-owning peasantry.