William Nordhaus: Smoking can teach us about climate change. New Book: Leading US Economist at Yale William Nordhaus Explains Why Carbon Needs a Price | Salon.com ow.ly/txEsW "... people respond to prices, and when prices are high, people use less of things. If the price of emissions goes up, then people are going to emit less. And this is not just consumers. ... It's a very simple point ..."