Environmental Regulation and Protection

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This section is a hot topic in many of today's discussions. How much pollution should there be? Who are the polluters? How can we reduce pollution, if at all? This chapter will give you a greater understanding of how difficult these questions are, and also introduce you to some common errors people make when trying to allocate the world's scarce resources when there are externalities associated with production or consumption of goods and services. Who should have the rights to the world's air, water, etc....?