Carbon tax v. cap-and-trade

Eight heavyweights come out on different sides of the debate. The key economic concept comes from Harvard's Robert Stavins:

In principle, both carbon taxes and cap-and-trade can achieve cost-effective reductions, and — depending upon design — the issue of who ultimately pays for the higher price placed on carbon can be similarly resolved in both approaches.

The rest is politics... but of course politics is important. In fact, the really key argument is not "carbon tax v. cap-and-trade" but "do something v. do nothing", and right now doing nothing is way ahead.