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Principles of Environmental Economics: Economics, Ecology and Public Policy

By: Ahmed M. Hussen | Book details

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chapter thirteen

GLOBAL ENVIRONMENTAL POLLUTION:

Acid Rain, Ozone Depletion and Global Warming

(Contributed by Marvin S. Soroos)
learning objectivesAfter reading this chapter you will be familiar with the following:
three major environmental problems with international or even global dimensions;
the causes and consequences of acid rain;
the causes and consequences of depletion of the ozone layer;
the causes and consequences of global warming;
international efforts to address the problem of acid rain, ozone depletion and climate change;
the economics of atmospheric pollution.

Most of the world’s climate scientists say global warming is a real and serious threat. Market forces won’t solve the problems, because markets treat pollution as a costless byproduct and underprice it. “Free-Market” advocates are promoting a complex scheme of tradable (transferable) emission rights. But this “market” does not exist in nature; it must first be constructed—by government diplomats and regulators. And these emissaries must resolve complex policy questions: how much overall

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