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Professor Emeritus Tom Tietenberg discusses the scientific and economic cases for action on climate change and the current political situation both domestically and globally. He explores the potential role for carbon pricing (emissions trading and/or carbon taxes) by reviewing how well existing programs work and what their evolution over time suggests for their future. This talk draws upon both Tietenberg’s participation in a National Academy of Sciences project on climate change and a recent survey paper that he completed for the International Monetary Fund, an organization that is getting more heavily involved in carbon pricing. Tietenberg retired from Colby in 2008 after more than 30 years at Colby.