The Berlin Wall that came down 20 years ago this month was an apt symbol of communism. It represented a historically unprecedented effort to prevent people from "voting with their feet" and leaving a society they rejected.
In the ideal world of economics, firms that take excessive risks go bankrupt, their competitors pick up the pieces and the economy marches on. Some call it "creative destruction."
Supporters of the climate bill passed by the House and the similar bill under consideration in the Senate -- including President Obama and Democratic congressional leaders -- say that the cap-and-trade approach would guarantee greenhouse-gas reductions.