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Business
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| Number of pages / Number of words: |
2 / 546 |
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For whatever reason, regulators have chosen not to act. In this case, the ability to profit from a toxic “good†creates a social problem. How can this problem be solved? According to self-styled “ecological economists,†the solution necessitates an overhaul of the entire concept of financial value...
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This is the theory behind carbon emissions cap-and-trade systems: place a dollar cost on each unit of carbon emissions, allocate a certain maximum amount of emissions to polluters, and polluters will be incented to cut emissions and for efficient producers to sell “credits†to producers who cannot easily reduce emissions...
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