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Abstract

Global carbon dioxide emissions (the main cause of global warming) continue to rise, hitting a new high in 2024, partly because of a record demand for coal. Last year was also the hottest in recorded history. In fact, it was the first year that the global average temperature surpassed 1.5 degrees Celsius above pre-industrial levels, the critical threshold established by the Paris Agreement. Unfortunately, the United States government continues to believe, despite evidence to the contrary, that market forces will encourage a speedy transition away from fossil fuels. We need nothing less than a system-wide transformation of our economy. Consideration of the World War II-era conversion experience in the United States helps to demonstrate both the feasibility of such a transformation and the importance of suppressing market forces to achieve it.

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