POLS 3370 Lecture Notes - Lecture 10: Polluter Pays Principle, Precautionary Principle, Bounded Rationality
12 Dec 2017
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Document Summary
The repertoire of administrative rationalism: pollution control agencies, regulatory instruments. The most popular forms of regulation is the environmental impact assessments (eia); used before projects gets full approval; really powerful tool. Most common needs where government inforce regulations; some pay fines in a part of doing business, so they don"t change their behaviours. Regulating the impact of industrial economic processes in the tail, instead of preventing oil sands its about regulating at the tail end of that process: decision making principles. The cost-benefit is possible to identify the cost and benefits and do it in time. If there is an environmental problem, ensure that that person has the right information to avoid issues. No government can be everywhere all the time, not all form of pollution can be as easy as others, enforcing regulations are not cost free. We need market instrument to create markets, and this leads to the regulations that information has cost.
