Salary Caps: the NFL has one, the NBA has one, the NHL now has one all that is left is for the MLB to put in one. After the Crimean conflict when the gentry changed their gown several occasions every day to swimsuit the event, Smoking caps & jackets have been derigueur after dinner put on, when the women left the room for their compulsory gathering, the boys vanished to the smoking room to imbibe brandy and smoke cigars whilst discussing the present business affairs of the day.
At about the same time, the Environmental Defense Fund (EDF) had begun to question its personal method to cleaning up pollution, summed up in its unofficial motto: “Sue the bastards.” Through the early years of command-and-management environmental regulation, EDF had also seen something fundamental about human nature, which is that folks hate being informed what to do. So a number of iconoclasts in the group had started to flirt with marketplace options: give people an opportunity to turn a profit by being smarter than the subsequent person, they reasoned, and they’d achieve things that no command-and-management bureaucrat would ever suggest.
Folks now name that system “cap-and-trade.” But back then the term of …