[PEN-L:9785] re: Environmental Economics
I second Jim Devine's message about neoclassicals and the environment in its entirety. The astounding misinterpretation of what the Coase theorem actually tells any reasonable analyst about the likelihood of environmental efficiency being achieved through voluntary and private negotiations of polluters and pollution victims is an excellent case in point. A reasonable reading of the theorem AND ITS INCREDIBLE LIST OF NECESSARY ASSUMPTIONS gives more than enough theoretical reasons for anyone who cares about the environ- ment to immediately embrace a government role!
[PEN-L:9785] re: Environmental Economics
I second Jim Devine's message about neoclassicals and the environment in its entirety. The astounding misinterpretation of what the Coase theorem actually tells any reasonable analyst about the likelihood of environmental efficiency being achieved through voluntary and private negotiations of polluters and pollution victims is an excellent case in point. A reasonable reading of the theorem AND ITS INCREDIBLE LIST OF NECESSARY ASSUMPTIONS gives more than enough theoretical reasons for anyone who cares about the environ- ment to immediately embrace a government role!
