lecture16 - Lecture 16 Environmental Policy and Capitalism...

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Environmental Policy and Capitalism Pollution Rights Trading EPA (1970) comes in with mandate to control level of pollutants in air/water became very large bureaucracy also put pollution-control devices on automobile engines passed cost onto consumer plants must phase out pollutants with control pollutants or face Fnes business and industry resisted effort Clean Air Act (1970) against six dangerous chemicals HC,CO, Ozone, NOx, SOx, particulates “big six” banned Standards approach “you must not go above pollution standard” dealt with externality of air pollution Congress - became conservative during 1980s did not like “parts per million” standard also believed it hurt economy because it hurt consumer - more expensive goods government interference in the market place 1990 amendments Clean Air Act Amendments passed by George HW Bush neo-smithian - now polluters have a certain amount of major source pollutants allowed according to law, they can trade/sell part or all of those allowances three scenarios:
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lecture16 - Lecture 16 Environmental Policy and Capitalism...

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