Certain schools of economic thought suggest that a pollution tax would reduce pollution in a more cost-effective way when compared to command-and-control regulation.
The advantage of market-oriented environmental gear is that, due to their incentives and flexibility, they are able to attain any favored discount in pollutants at a decreased value to society than command-and-manage law. it's miles complete of best print and exceptions, and costly for some corporations to conform with.
Economists have not recognized any difficulties with command-and-manage environmental law. Command-and-control law has now not been very successful in protecting and cleansing the environment inside the united states of America. because externalities constitute a case wherein markets now don't forget all social fees however only a few of them, economists generally refer to externalities for instance marketplace failure.
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