Free market environmentalism: wonder drug or snake oil?

Article Abstract:

Terry L. Anderson and Donald R. Leal, in their book 'Free Market Environmentalism,' engage in demagoguery that is likely to harm rather than support the case for market solutions to environmental problems. Anderson and Leal indulge in scapegoating the government, refuse to consider any difficulties with their approach, ignore distributional problems and deny the seriousness of some problems such as acid rain. Serious advocates of free market environmentalism should focus on identifying specific problems that could benefit from market approaches and developing those approaches.

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Escaping environmental feudalism

Article Abstract:

US environmental policy is feudal in that it has nationalized rights to environmental assets, which are managed by Congress acting as lord of the manor with the EPA as its agent. This modern feudal system has replaced the common law system which used nuisance law to handle environmental issues. Unfortunately, Congress differs from the feudal lord of the manor in that it lacks incentives to maximize the common wealth. Instead, the current system encourages rent-seeking behavior and central administration rather than enforcement of property rights and contractual relationships.

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