I was reading in my econ text notes by the teacher and there is something that really struck me, I think I will type it for all you to see and share ideas....*ahum*
"One of the biggest problems with controlling pollution is that it is an 'externality'-it is 'external' to the market. It is not accounted for the marker system because the entire cost of pollution is not borne by those who pollute. When I pollute, I do not pay the cost alone-it is spread among all of society" ---Crispy critters.
....add more here about what could happen and more "economic" problems.
"One approach to both effectively and efficiently reducing pollution is to assign property rights and responsibilities to the pollution itself. The government can grant each firm so many units of pollution and allow that firm to trade unused units to other firms. In this way, the marketplace allows those who voluntarily reduce pollution to sell their unused pollution rights to those who are unable to reduce pollution any further. Under this system, producers will have an incentive to reduce pollution. They will seek to reduce their pollution and sell their unused units. Those with higher reduction costs can still produce because they will be able to buy the right to do so. In turn, the will pass those costs along to the people who buy the product. The result is the person who benefits from the pollution (the consumer who bought the product) is the person who pays for the pollution. Thus, we have internalized and externality; that is, with higher prices causing a reduction in sales and, therefore, in profits, the polluting company no longer wants to pollute because it isn't profitable to do so." To me this says a lot. It makes me think...What could go wrong in this system? One thing I know for sure is we need to think of something to help our environment within this generation or else we will all be crispy critters, and so will the helpless non-human kind of future crispy critters.
Thoughts?......................anyone?
-Aidan