SMITH STEPHEN

(P/B) ENVIRONMENTAL ECONOMICS
If environmental protection is costly, how much should we spend on pollution control? Is it worth reducing pollution to zero, or should we accept some level of pollution because of the economic benefits associated with it? How can we assess the benefits that people get from a less-polluted atmosphere? In broad terms, environmental economics looks at how economic activity and policy affect the environment in which we live. Some production generates pollution, such as power station emissions causing acid rain and contributing to global warmi...
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