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A study showing that environmentally beneficial technical innovation would be more effective than economic efficiency as the organizing principle of environmental public policy.
This book offers a vision for the third generation of environmental law designed to enhance its ability to protect our environment. The book presents two core proposals, an Environmental Legacy Act to preserve a defined environmental legacy for future generations and an Environmental Competition Statute to spark movement to new clean technologies. The first proposal would require, for the first time, that the federal government define an environmental legacy that it must preserve for future generations. The second would establish a market competition to maximize environmental protection. The balance of the book provides complementary proposals and analysis. The first generation of environmental law sought broad protection of health and the environment in a fairly fragmented way. The second sought to enhance environmental law's efficiency through cost-benefit analysis and market mechanisms. These proposals seek to create a broader, more creative approach to solving environmental problems.
The Economic Dynamics of Environmental Law proposes an alternative to static efficiency-based analysis and policy prescription, focusing primarily upon the environmental law example. It argues for an approach that takes change over time seriously. In particular, an economic dynamic exists that tends to diminish environmental quality over time, principally through increased consumption and population growth. For that reason environmental policy should compensate for these tendencies by encouraging pro-environmental innovation, which the free market often fails to foster. The literature has blurred attention to the innovation problem by failing to acknowledge the tension between fostering innovation beneficial for the long-term and regulation aimed at short term efficiency. Environmental policy cannot foster innovation by treating each regulatory decision as a separate transaction governed by principles of allocative efficiency. Rather, environmental policy-makers should aim to address this larger picture by securing a sufficient number of environmentally positive decisions to countervail numerous private decisions that tend to degrade the environment. This book employs an institutional economic framework, placing some emphasis on Douglas North's idea of adaptive efficiency, to analyze how to think about the environmental law's economic dynamic. It critiques cost-benefit analysis, emissions trading, and free trade-based restraints on environmental protection. It uses the free market as a model, not of efficiency, but of a dynamic encouraging innovation and adaptation in the face of uncertainty. And it urges consideration of a variety of reforms based on economic dynamic analysis. This book contends that its economic dynamic theory offers a viable alternative to policy prescription based on a neoclassical economic framework in a variety of areas, and includes an application of the theory to the law of regulated industries.
In the groundbreaking Food, Agriculture, and Environmental Law, leading environmental legal scholars Mary Jane Angelo, Jason Czarnezki, and Bill Eubanks, along with five distinguished contributing authors, undertake an exploration of the challenging political and societal issues facing agricultural policy and modern food systems through the lens of environmental protection laws. Through this exploration, the authors seek to answer difficult questions about the need for new approaches to agricultural policy and environmental law to meet 21st Century concerns surrounding climate change, sustainable agriculture, accessibility to healthy foods, and the conservation of natural resources and ecosystem services. This is the first book to examine both the impact of agricultural policy on the environment and the influence of environmental law on food and agriculture. The authors present a brief historical overview of agricultural policy as it has adapted to satisfy shifting demands and new technologies, and its role in shaping not only the current farming system and the rural economy, but also the value which we ascribe to our natural resources relative to agricultural production. The authors then explain in detail the components of the current farm bill; analyze the ecological impacts of the modern farming system encouraged by our nation s agricultural policy; and examine the interplay between agriculture, food production and distribution, and existing environmental and related laws. They conclude with several concrete proposals to reform agricultural policy that serve as models of how to enhance sustainability in our farming and food system. This book supplies a comprehensive, timely, and cohesive guide on the intersection of agriculture and the natural environment. It achieves this goal through an interdisciplinary lens, engaging diverse perspectives to provide both a practical and academic examination of the environmental impacts of current farm policy, the applicability of environmental regulatory mechanisms to agriculture and food, and reform proposals to combat environmental harms while protecting farmers economic interests as well as the rural communities they bolster. As a result, this work serves as the quintessential text for bringing these issues to the classroom in a variety of fields, including law, public policy, agricultural economics, and environmental science.
This Handbook discusses the main issues, research, and theory on business and the natural environment, and how they impact on different business functions and disciplines
The past twenty-five years have seen a significant evolution in environmental policy, with new environmental legislation and substantive amendments to earlier laws, significant advances in environmental science, and changes in the treatment of science (and scientific uncertainty) by the courts. This book offers a detailed discussion of the important issues in environmental law, policy, and economics, tracing their development over the past few decades through an examination of environmental law cases and commentaries by leading scholars. The authors focus on pollution, addressing both pollution control and prevention, but also emphasize the evaluation, design, and use of the law to stimulate technical change and industrial transformation, arguing that there is a need to address broader issues of sustainable development. Environmental Law, Policy, and Economics,which grew out of courses taught by the authors at MIT, treats the traditional topics covered in most classes in environmental law and policy, including common law and administrative law concepts and the primary federal legislation. But it goes beyond these to address topics not often found in a single volume: the information-based obligations of industry, enforcement of environmental law, market-based and voluntary alternatives to traditional regulation, risk assessment, environmental economics, and technological innovation and diffusion. Countering arguments found in other texts that government should play a reduced role in environmental protection, this book argues that clear, stringent legal requirements--coupled with flexible means for meeting them--and meaningful stakeholder participation are necessary for bringing about environmental improvements and technologicial transformations.
This book presents fresh analyses of a number of well-known cases, but does so from one comprehensive view, the so-called policy arrangement approach. Cases discussed range over organic farming, integrated water management, nature policy, cultural heritage policy, integrated region-oriented policy, corporate environmental management and target group policy, always in search of the commonality of experience and conclusions to be drawn in understanding the past and in formulating future perspectives.
The Law and Policy of Ecosystem Services is the first comprehensive exploration of the status and future of natural capital and ecosystem services in American law and policy. The book develops a framework for thinking about ecosystem services across their ecologic, geographic, economic, social, and legal dimensions and evaluates the prospects of crafting a legal infrastructure that can help build an ecosystem service economy that is as robust as existing economies for manufactured goods, natural resource commodities, and human-provided services. The book examines the geographic, ecological, and economic context of ecosystem services and provides a baseline of the current status of ecosystem services in law and society. It identifies shortcomings of current law and policy and the critical areas for improvement and forges an approach for the design of new law and policy for ecosystem services. Included are a series of nine empirical case studies that explore the problems caused by society’s failure to properly value natural capital. Among the case study topics considered are water issues, The Conservation Reserve Program, the National Conservation Buffer Initiative, the agricultural policy of the European Union, wetland mitigation, and pollution trading. The Law and Policy of Ecosystem Services is a groundbreaking look at the question of whether and how law and policy can shape a sustainable system of ecosystem service management. It is an accessible and informative work for faculty, students, and policy makers concerned with ecology, economics, geography, political science, environmental studies, law, and related fields.
Since the Rio ‘Earth’ Summit of 1992, sustainable development has become the major policy response to tackling global environmental degradation, from climate change to loss of biodiversity and deforestation. Market instruments such as emissions trading, payments for ecosystem services and timber certification have become the main mechanisms for financing the sustainable management of the earth’s natural resources. Yet how effective are they – and do they help the planet and developing countries, or merely uphold the economic status quo? This book investigates these important questions. Providing a comprehensive analysis and the latest research on sustainable development, the authors compare the divergent approaches to emissions trading. Included is a detailed investigation into illegal logging and the effectiveness of policy responses, with an evaluation of different forest certification schemes. Biodiversity offsets and environmental payments are also explored. Integral to the book are interviews and opinions of the key stakeholders in the political economy of sustainable development. This uniquely comprehensive analysis of the governance quality of different sustainable development mechanisms, unprecedented in its panorama of comparative case studies, is essential reading for all those in the policy, academic and non-governmental communities.
This book offers a dynamic theory of law and economics focused on change over time, aimed at avoiding significant systemic risks (like financial crises and climate disruption) and implemented through a systematic analysis of law's economic incentives and how people actually respond to them. This theory offers a new vision of law as fundamentally a macro-level enterprise establishing normative commitments and a framework for numerous private transactions, rather than as an analogue to a market transaction. It explains how neoclassical law and economics sparked decades of deregulation culminating in the 2008 financial collapse. It then shows how economic dynamic theory helps scholars and policymakers make wise choices about how to avoid future catastrophes while keeping open a robust set of economic opportunities, with individual chapters addressing the law and economics of financial regulation, contract, property, intellectual property, antitrust, national security and climate disruption.