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RS 301 - Reaction Paper 3 Emissions Trading

RS 301 - Reaction Paper 3 Emissions Trading - Lloyd 1 S...

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Lloyd 1 S. Lloyd Professor Wolf RS 301 Fall, 2009 Reaction Paper 3: Emissions Trading I chose to read the Wikipedia article concerning emissions trading because it is a subject that I currently know very little about. The following statement reminded me about the profound importance that economics and market theory can have, in relation to sustainability efforts and projects throughout the world, “Emissions trading (or emission trading) is an administrative approach used to control pollution by providing economic incentives for achieving reductions in the emissions of pollutants. It is sometimes called cap and trade.” (1) Based on first few paragraphs of the Wikipedia article, and this quote in particular, it is my temporary conclusion that the concept, or philosophy, behind emissions trading is an example of a market based, or economic solution to global warming, which might produce better results than a purely regulatory effort. At the risk of sounding cynical or jaded, the older I become, the more that I believe the
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