Carbon Tax vs. Cap-and-Trade in 19 Words

John Whitehead, posting at Environmental Economics achieves the heretofore professorially impossible:

...in rank order:

1. carbon tax
2. cap-and-trade with auctions
3. cap-and-trade with giveaways
4. command and control
5. nothing

Clear, cogent, concise.
(Good beat, easy to dance to; I give it a 93)