In this classic book, originally published in 1968 by University of Toronto Press, John Dales proposed a new policy instrument for tackling pollution problems, namely `markets in pollution rights'. Dales was one of the first economists to put forward such a solution, and in subsequent years a system of emissions trading has evolved which is now a centrepiece in international discussions of how to address the problem of global climate change.
Policymakers around the world are still exploring ways in which the marketable-rights approach may be used to increase the effectiveness of environmental regulation. From this perspective, readers will find this short and extremely readable book of great interest - as a return to the basic idea in its original form and a lucid justification for its continued use.
Contents: Foreword by Wallace E. Oates Preface 1. To Live is to Pollute 2. The Costs of Waste Disposal 3. Simple Problems, Actual Solutions 4. Actual Problems, Actual Solutions 5. The Property Interface 6. Pollution Rights 7. Summary Index