It's just numbers on a page.
So is your bank account.
Just sayin.
Are you saying a market can't exist without rules set by an arbitrary entity?
It can, most certainly. And it will quickly devolve into a monopolistic or feudal system. People are too smart to sit idly by and not make money any way they can, so inevitably an unregulated market will be taken over by those willilng to use the most shady business practices and cut the most corners. This is similar to now, except we have in place minimum standards that determine how low a company can go and still be allowed to conduct business. Those rules help ensure a healthy and competitive market, and in this case, they create and define that market.
The issue that determines whether cap and trade is a successful market solution that succeeds in atmospheric carbon reduction is not too much government regulation and intervention, it is too little. If not properly regulated, cap and trade will do nothing to reduce carbon emissions, and it will become an arbitrary wealth generator with no incentive to actually reduce global emissions since that would, by definition, eradicate the market.
And when it comes to issues of health and safety, it is almost never consumer demand that forces those changes, it is government regulation (on behalf of constituent demand...but remember, you have a lot more say with your local politician than you do with any corporation, even if it's "little" in both cases).
To err is human, to forgive, beyond the scope of the Operating System.