[LINK] RFC: eCommerce Perspective on Carbon Trading

[Roger Clarke]

At 4:19 +0000 8/2/09, stephen at melbpc.org.au wrote:
>Haven't read our government's December White Paper, but would strongly
>opinion we do NOT allow banks and brokers as carbon-credit speculators.
>It happened with local water-rights & imho, Japan will regret allowing
>their banks entry. I wonder, have you formed an opinion regarding this?

My 'academic' papers are frequently criticised for straying too far 
into policy position statements, so I left those parts pretty vague.

Personally, my insufficiently considered position is that:

-   all derivatives that are not transparent should be illegal
     (but options and futures are pretty clearly defined instruments)

-   all uncovered short-selling should be banned
     (Justifying white-collar and corporate gambling on the basis that
     it delivers market depth overlooks the substantial implications
     for price-volatility and non-self-equilibrating positive feedback
     i.e. runaway, bandwagon effect)

And I'm not just talking about carbon, or shares in financial 
services corporations, or gambling by financial institutions;  I mean 
across the board(s).


The Japanese material's useful, thanks Stephen.  (The extended paper 
will be looking at particular schemes in more detail).


-- 
Roger Clarke                  http://www.anu.edu.au/people/Roger.Clarke/

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Visiting Professor in Info Science & Eng  Australian National University
Visiting Professor in the eCommerce Program      University of Hong Kong
Visiting Professor in the Cyberspace Law & Policy Centre      Uni of NSW