Head for Camp David. Convene meetings. Take advice from economists, your Cabinet, all the experts. Then put forward a giant new economic program, maybe including some dramatic form of shock therapy that will calm financial markets and create jobs.
The United States has no national tax or price on carbon dioxide pollution. That doesn't mean it doesn't cost investors anything there or elsewhere, says former Vice President Al Gore. He and David Blood, co-founders of Generation Investment Management, this morning published a new paper explaining the evolution of their thinking on "sustainable capitalism," and how investors can lessen their financial risks from climate change. Gore and I spoke on Oct. 17.