Papers Published in World Economics:
The Morality of Market Mechanisms to Control Pollution
The use of pollution charges or tradeable permits to reduce pollution has been
condemned by many environmentalists and some philosophers on the grounds
that (i) pollution is inherently immoral; (ii) environmental assets are not
appropriately valued in monetary terms; and (iii) the sale of ‘environmental
indulgencies’ is inequitable since it unfairly favours the rich. In this article it is
argued that all these arguments are invalid.
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