Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

Property Rights, Justice and Efficient Environmental Policy

Property Rights, Justice and Efficient Environmental Policy PROPERTY RIGHTS, JUSTICE AND EFFICIENT ENVIRONMENTAL POUCY Richard L. Stroup^ 1. Introduction The goals of environmental regulation are important ones: protecting human health and environmental values that have a high priority among citizens. But which types of pollution should be given priority for reduction or prevention? How clean should the air be? Which methods of pollution reduction should be used? Answering these questions properly, in order to get these priorities straight is important, in part because the benefits are potentially so great, and in part because the costs of reducing pollution can be very high. The property rights, or market approach, can help. It is important to recognize that private property rights and markets are nearly synonymous. If property rights are defined, defendable, and divestible ("3-D") then markets are where people seek what they want by the exchange of rights. And markets can be effective only to the degree that property rights are "3-D." A failure to protect rights will undermine efficient production, resource protection, and resource conservation (economizing behavior) on the part of both producers and consumers. Failing to protect the rights of landowners and other people against harmful invasion of chemicals from upwind or upstream polluters, http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal des Économistes et des Études Humaines de Gruyter

Property Rights, Justice and Efficient Environmental Policy

Loading next page...
 
/lp/de-gruyter/property-rights-justice-and-efficient-environmental-policy-wFFuultkOi
Publisher
de Gruyter
Copyright
Copyright © 1996 by the
ISSN
2194-5799
eISSN
2153-1552
DOI
10.1515/jeeh-1996-2-303
Publisher site
See Article on Publisher Site

Abstract

PROPERTY RIGHTS, JUSTICE AND EFFICIENT ENVIRONMENTAL POUCY Richard L. Stroup^ 1. Introduction The goals of environmental regulation are important ones: protecting human health and environmental values that have a high priority among citizens. But which types of pollution should be given priority for reduction or prevention? How clean should the air be? Which methods of pollution reduction should be used? Answering these questions properly, in order to get these priorities straight is important, in part because the benefits are potentially so great, and in part because the costs of reducing pollution can be very high. The property rights, or market approach, can help. It is important to recognize that private property rights and markets are nearly synonymous. If property rights are defined, defendable, and divestible ("3-D") then markets are where people seek what they want by the exchange of rights. And markets can be effective only to the degree that property rights are "3-D." A failure to protect rights will undermine efficient production, resource protection, and resource conservation (economizing behavior) on the part of both producers and consumers. Failing to protect the rights of landowners and other people against harmful invasion of chemicals from upwind or upstream polluters,

Journal

Journal des Économistes et des Études Humainesde Gruyter

Published: Jun 1, 1996

There are no references for this article.