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Papers > Business > Government Policies to Reduce Pollution Levels
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Government Policies to Reduce Pollution Levels |
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Discuss the policy measures that could be taken by the government to reduce pollution levels created by a particular industry. Critically evaluate these policies, in terms of both cost and effectiveness. In the real world market failure occurs to achieve social efficiency, the type of market failure resulting in pollution is externalities. ... The negative externality of pollution will be examined in this instance. This essay will explore the policy measures that could be taken by the government to reduce pollution levels created by a particular industry, predominantly in terms of policy cost and effectiveness. ... In this case pollution is a negative production externality of a particular industry. Pollution occurs as a by-product of the production of goods and services, it is artificially generated waste that is released into the environment. ... 68) Examples of pollution are air, sound, water and solid wastes. ... The Government implements certain policies to correct for negative externalities. These policies may be economic incentives or disincentives. Economic incentives, which are used to encourage anti-polluting practices by firms is: - to subsidise producers, for installing pollution control measures and practices - to reduce the sales tax on pollution reducing machinery and equipment - tax credits for firms that reduce their pollution emissions - vouchers, where the pollution rights are sold, it allows a producer to generate a certain level of pollution, this is also tradable between firms-can sell to each other. ... - Lump sum tax, this is a fine for pollution production over a certain level. ... Type of regulation depends on location and pollution emitted, it must be followed or penalties are incurred. ... Pollution can be reduced if individuals are allowed to own water within the confines of the stream’s banks. |
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Title: Government Policies to Reduce Pollution Levels
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