Free Market Solutions to Environmental Problems
Conventional wisdom holds that government action, such as restrictions and regulations, represents the best avenue for solving environmental problems. An alternative view, however, contends that a better solution involves a free-market approach that is compatible with values of individual liberty and private property rights. The Cato Institute, a free market think tank in Washington, D.C., calls this "free market environmentalism."
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Expert Insight
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Cato Institute environmental policy analysts point out that homes and yards in America are generally well kept, while government-managed streets and parks are a mess.
Misconceptions
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Modern environmental policy is based on the misconception that government is the best steward of the environment and that pollution can be eliminated without significant economic cost, according to the Cato Institute.
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Types
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Free-market solutions to environmental problems include taking public lands, wetlands and wildlife areas away from government and entrusting them to private stewardship arrangements.
Effects
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According to free-market advocates, private property rights would provide an incentive to protect wildlife, wetlands and other environmental resources.
Benefits
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Proponents contend that free-market solutions to environmental problems will result in better environmental protection, lower taxes and greater individual liberty.
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