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  • Cited by 33
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    • Publisher:
      Cambridge University Press
      Publication date:
      05 July 2014
      12 May 2014
      ISBN:
      9780511845734
      9781107010222
      9780521279659
      DOI:
      https://doi.org/10.1017/CBO9780511845734
      Dimensions:
      (228 x 152 mm)
      Weight & Pages:
      0.53kg, 244 Pages
      Dimensions:
      (228 x 152 mm)
      Weight & Pages:
      0.34kg, 240 Pages
      • Subjects:
      Economics, Economics: General Interest, Politics: General Interest, Political Economy, Natural Resource and Environmental Economics, Politics and International Relations
      Series:
      Cambridge Studies in Economics, Choice, and Society
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    Subjects:
    Economics, Economics: General Interest, Politics: General Interest, Political Economy, Natural Resource and Environmental Economics, Politics and International Relations
    Series:
    Cambridge Studies in Economics, Choice, and Society
    Information

    Book description

    Environmental Markets explains the prospects of using markets to improve environmental quality and resource conservation. No other book focuses on a property rights approach using environmental markets to solve environmental problems. This book compares standard approaches to these problems using governmental management, regulation, taxation, and subsidization with a market-based property rights approach. This approach is applied to land, water, wildlife, fisheries, and air and is compared to governmental solutions. The book concludes by discussing tougher environmental problems such as ocean fisheries and the global atmosphere, emphasizing that neither governmental nor market solutions are a panacea.

    Reviews

    'Two of the world’s leading scholars on property rights and the environment offer a timely reminder that government is not always an effective steward of natural resources when markets fail at this task, and offer a rich review of the myriad creative ways in which market forces can be harnessed to improve environmental quality. The book's fresh perspective on the question of how best to solve problems ranging from climate change to overfishing reminds economists and their students to 'look before they leap', with regulation as a solution.'

    Sheila M. Olmstead - University of Texas, Austin

    'Two of the economics profession’s leading lights logically demolish the fallacy that only government action can protect the environment. In its place, they build a rock-solid, readily understandable case for a property-rights–market-based alternative approach. Their wealth of experience shines through in the case-study evidence used to reinforce their arguments.'

    Jeff Bennett - Australian National University

    'Environmental Markets reminds us to identify the root causes of environmental problems before prescribing solutions. Often it is not failing markets but missing markets that are the problem. The authors’ numerous examples are compelling. This book will serve as a guidepost for economists and other analysts proposing policy solutions to the difficult environmental problems we face today.'

    Margaret Walls - Research Director and Senior Fellow, Resources for the Future

    'Provides an excellent introductory account of how environmental markets relate to environmental problems.'

    Source: Choice

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