Peter Barnes explains how protecting the environment and sharing the fruits of our economy more broadly can – and should – go hand-in-hand:
The failure to charge for common wealth — for example, letting polluters dump freely into our atmosphere — leads to what economists call “negative externalities.” The costs of pollution aren’t paid by polluters; they are shifted to pollutees, nature and future generations. And this market failure persists because no living individuals or companies would financially benefit from fixing it.But imagine a system in which everyone benefits from fixing this tragic flaw. In this system, polluters would pay and all living citizens, as joint beneficiaries and trustees of nature’s gifts, would get dividends. The higher the price for using the commons, the larger the dividends and the lower the externalities. The health of nature’s gifts would be directly linked to greater income for everyone.
Read more here.
Leave a comment
animation annie leonard arms dealers austerity banks climate change corporate welfare corruption debt democracy Econ4 video remix contest economics education employment energy environment financial crisis fiscal policy free-market gar alperovitz gerald epstein gerald friedman greed green growth health care inequality insurance investment james k. boyce john maynard keynes joseph stiglitz Juliet Schor labor markets minimum wage movements music nancy folbre new economy Occupy Wall Street recession regulation subsidies taxes