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Class notes memo info 2-5

Class notes memo info 2-5 - 2 Cap and trade(pollutant puts...

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Externalities- When things have costs on the environment, there are often costs not included in the purchase value that society is burdened with. Ipod example. The way to fix this would be to internalize cost. Include the costs in the price, it reduces the desire of people to want to use goods that are more expensive. Regulation (Technology standard)- impose new tech standards that are cleaner, the industry will pass the cost along to us. COMMAND AND CONTROL, RULES AND DETERENCE Market based solutions: developed in the 1990s by academics and policy innovators. 1) Taxes (Pigouvian tax)- tax products that have external costs
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Unformatted text preview: 2) Cap and trade (pollutant)- puts a limit on an amount of a pollutant that can be emitted, divides the total allowed amount by permit to industries. Industries that can quickly and efficiently reduce emissions would, and sell their permits to other industries that cannot adapt as quickly. C.A.A.A- Clean Air Act Amendments of 1990 attempted sulfur dioxide SO2 (Acid Rain) Cap and Trade tactic, and it worked. Regulation attempts a one size fits all situation. Mercury is different because of bio accumulation. How strictly should the EPA be regulating mercury. MEMO NOTE....
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