Is the U.S. becoming a command and control economy?

The Washington Post's editors think so (HT Virginia Postrel). The cap-and-trade bill seems to have a million points of tyranny hidden in the footnotes. If you can read this and see how federalism (that system of 50 entrepreneurial states) lives, let me know. And keep in mind, I've come out in favor of taxing carbon, specifically the cap-and-trade approach.

With those targets in mind, the bill expects organizations that develop model codes for states and localities to fill in the details, creating a national code. If they don't, the bill commands the Energy Department to draft a national code itself.

States, meanwhile, would have to adopt the national code or one that achieves the same efficiency targets. Those that refuse will see their codes overwritten automatically, and they will be docked federal funds and carbon "allowances" -- valuable securities created elsewhere in the bill that give the holder the right to pollute and can be sold. The Energy Department also could enforce its code itself. Among other things, the policy would demonstrate the new leverage of allocation of allowances as a sort of carbon currency -- leverage this bill would be giving to Congress to direct state behavior.

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