lec 9

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University of Toronto Scarborough
Management (MGS)

Week 9 If you represent someone who is mentally incompetent and you sue on their behalf, you can also be sued by someone on their behalf -environmental groups dont want to BE sued, and it is very impractical, therefore it is a powerful argument against them from being able for suing on the environments behalf 3.) Bringing the polluter into the market -entities who are doing the polluting such as corporations and businesses primarily -refer to the whole range of ideas that are hot topics such as carbon tax, trade systems, anything that would not make pollution legal, but would make a disincentive through the market system through monetary penalties and costs -using the desire of people to make as much money as possible and to use principle of market system to try and minimize and ultimately as close as possible to eliminating pollution -Stephan Dion wanted a carbon tax which would bring polluters into the market system, as they would have to pay tax in proportion to what they polluted -idea was that it would be more economically feasible to switch to less polluting technology then pay the tax, therefore the market was still willing to pay for the items that were more expensive, because they want less pollution -in many cases the tax would deter consumption of products where whenever there was less environmentally costly product therefore it spurred the search for new technologies -cap and trade systems which Americans politicians are trying to implement works in a couple ways and also uses market sytems and they would set a global limit for carbon emissions and the limit would then be divided into quotas, i.e. 100,000 quots of an equal amount and companies who feel that they have to pollute, but they would have to buy some quota and their prices would also go up, or they might even go out of business -many companies felt that if we have to pay for this quota, we may as well switch to a less polluting technology as its cheaper and over time the global limit goes down and the price of quotas goes up therefore more companies will switch so that they dont have to buy quotas and those who refuse to switch will either go out of business -idea is to harness the elegance of the market system to deal with pollution -people who are unhappy are environmentalists who think its better to use the legal system to outlaw pollution and simply regulate rather than using the market system because of the following: www.notesolution.com
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