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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.
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