Can Bill Gates save the world from capitalism? Gates’s new book, How to Avoid a Climate Disaster, lays out his plan for achieving net zero. With all the fanfare around the book’s release — his face was splashed on the cover of multiple magazines this week — this plan is depressingly familiar.

Climate change, Gates and many economists argue, is an example of a market failure. Markets have failed to adequately “price” carbon emissions, meaning we produce too much of them. If governments could only assign the correct price to these emissions, the market failure would be corrected and the planet would be saved.

The challenges really come down to implementation. If we tax polluting activities more heavily to internalize the negative externalities associated with them, then who should bear the burden of paying those taxes: those extracting and burning the fuels, or the final consumers of the goods produced? If we have to subsidize green energy, or invest in research and development, then where should the money come from?