By Tyler McNish Tradable property rights-based carbon offsets are widely used as a policy tool for combating the greenhouse gas emissions that cause climate change. However, academics, non-governmental organizations, and market participants have criticized carbon offset mechanisms’ economic inefficiency and dubious environmental benefits. This Article traces these criticisms … [Read more...] about Carbon Offsets are a Bridge Too Far in the Tradable Property Rights Revolution
economic theory
The Geography of Trading Ecosystem Services: A Case Study of Wetland and Stream Compensatory Mitigation Markets
By Philip Womble & Martin Doyle With the exception of greenhouse gas trading programs, environmental markets are prisoners of their own geography — and with good reason. Climate change is a global phenomenon, and so carbon markets can be geographically all-inclusive — a ton of carbon dioxide emitted in Beijing has the same effect as a ton of carbon dioxide emitted in New … [Read more...] about The Geography of Trading Ecosystem Services: A Case Study of Wetland and Stream Compensatory Mitigation Markets
Two Cheers for Feasible Regulation: A Modest Response to Masur and Posner
By David M. Driesen This Article compares the relative merits of feasibility and cost-benefit based regulation, responding to a recent article by Jonathan Masur and Eric Posner on this topic. Normatively, it shows that the lack of correlation between non-subsistence consumption and welfare supports the argument that regulation should be strict, unless widespread plant … [Read more...] about Two Cheers for Feasible Regulation: A Modest Response to Masur and Posner