There is no market for clean air. It is a free good. Yet, when a coal plant uses it and releases pollution, their consumption of clean air affects us all. Because they face no costs for using up the clean air, they will pollute at higher levels than society wants. … Read the rest
Tag: Pollution
Why we need environmental regulation
Many people find the concept of deregulation appealing under the guise of unshackling businesses. But, most regulation came about in response to a problem. In the past, there were no pollution standards. Coal was the primary method of heating in homes and factories could expell whatever they wanted into the atmosphere or waterways. … Read the rest