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Nobel Prize winning economist Schelling explains need for post-Kyoto agreement

With several international climate change meetings scheduled in the coming months, the debate continues over how best to sculpt a post-Kyoto approach to addressing climate change. During today's OnPoint, Nobel Prize winner Thomas Schelling explains why a voluntary approach would be most successful -- but why President Bush's plan for setting "aspirational" goals will not work. Schelling, currently a professor at the University of Maryland, explains how the Marshall Plan model can provide a structure for an international emissions agreement. He also talks about the need for the United States to pass its own climate legislation in order to facilitate the post-Kyoto process.