GEOG 1220 Lecture : Externalities and Sustainable Development

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Compensation: people affected are compensated for damage. Regulations may impose quotas, but some pollutants are more toxic than others. A pollutant may not be a problem at one point in time but may become one in the future. 13 of 70 000 chemicals banned (carbon tax): every unit of effluent released into the environment is: effluent charges paid for. Better for the industry: cap and trade: No price per units: limits to removing externalities, lack of knowledge: source of pollution. Determining safe levels: sheer volume of contributions. Industry: measured costs and benefits of pollution abatement subject to changes in the economy, ability or degree to which individuals and interest groups can influence decision making. Corporate resistance- automobile emissions: cannot remove all pollutants. Assimilative capacity of the environment varies: common property resources: difficult to safeguard in a free-market economy, sustainable development, our common future (brundtland report)

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