And it explains the world's top-down, command-and-control approach to environmental policymaking.

ECONOMIST: Environmental economics: Rescuing environmentalism | The

That is why the next wave of environmental policymaking will need to employ commonsense tools such as cost-benefit analysis, and make greater use of flexible, market-based instruments such as emissions-trading, rather than the tired command-and-control approach favoured by most greens.

ECONOMIST: Energy and the environment

But by talking prematurely about tax cuts, Mr Duncan Smith is only giving ammunition to Tony Blair and confusing what should be his party's most important message: that the Conservatives' newfound decentralist approach is superior to the philosophically flawed command-and-control methods of the government.

ECONOMIST: Bagehot