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Lecture 60

ECON 1010 Lecture 60: Lecture 60

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University of Manitoba
ECON 1010
Laura K.Brown

o982 1. Trying to eliminate all pollution would reverse many of the technological advances that allow us to enjoy a high standard of living 2. A clean environment is a good like other goods 3. Like all normal goods, it have a positive income elasticity – rich countries can afford a cleaner environment than poor ones and therefore usually have more rigorous environmental protection 4. Clean air and water obey the law of demand – the lower the price of environmental protect, the more the public will want 5. Pollution permits and corrective taxes reduces the cost of environmental protection and should therefore increase the publics demand for a clean environment Private Solutions to Externalities: 1. Government action is not always needed to solve the problem 2. People can develop private solutions The Types of Private Solutions: 1. Solved with moral codes and social sanctions 1. “Do unto others as you would have them do unto you” 2. Internalize externalities 3. Charities - (ex: greenpeace)
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