Environmental problems under socialism

Article Abstract:

The evolution of modern economic theory in relation to externalities explains why the centrally planned economies of Eastern Europe failed to preserve their environment, and why industrialization and modernization wrought more disaster than in other economies. Several concepts of classical externalities were formulated by Arthur C. Pigou based on the structure of incentives and information under socialism. The exchange envisioned by Ronald Coase cannot operate to settle disputes when the use of a resource influences the value of another, because of artificially high transaction costs and the absence of well defined property rights.

Usage, Influence, Economics, Eastern Europe, Industrial development, Industrialization, Central planning, Europe, Eastern

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A free-market environmental program

Article Abstract:

US environmental protection policies cannot be adapted in the USSR because of the absence of the free-market mechanism which makes US policies work. A capitalist system promotes efficient utilization of resources because ownership is broad-based, putting more people and resources at stake and more likely to contribute to environmental protection. Privatization should be an integral part of the USSR's environmental program in order to shift environmental responsibilities to the firms who use up the resources. The integration of economy and ecology will give people the ability to save the environment.

Economic development, Environmental policy, Soviet Union

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Managing planet earth: adaptation and cosmology

Article Abstract:

It is posited that freedom of action is superior to ecological management in maintaining life on earth. The argument is based on the concept that freedom is a necessary component of effective adaptation to changing circumstances.

United States, Economic aspects, Human beings, Human-environment interactions, Cosmology, Liberty, Freedom

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