Environmental Economics

Environmental economics embraces the issues of market failures, pollution control, environment protection and resource allocation, in which costs and benefits are difficult to estimate as much of the subject matter falls outside the competitive market system. This text is concerned with ways and means to achieve this allocation through government intervention by way of statutory regulation, emission and effluent charges, user charges for the disposal or treatment of wastes, carbon and environmental taxes, product charges etc. The political implications of these taxes are important and this text also covers the actual experiences of various governments.