somewhatgifted said:
This would have to occur over a global scale would it not?
It would be nice, but not necessarily. Bottom line is the market performs better than government controlled economies. Over time we'd find what I guess you could call the optimal level of pollution. Plus the internalized cost makes R&D into cleaner energy much more attrqactive because it would actually be profitable for companies, and without instituting a forced price hike through government fiat that would make them take a hit in production. That's something a lot of people don't get. If you artificially raise the price of something production has to fall, either in that industry or somewhere else. The same thing happens when a price goes up due to scarcity but that purs production. The problem is no one, including the government, knows what the prices should be. If it's done artifically you lose productivity because the price is arbitrary; it means resources are not being allocated along with demand to some degree or another, and you get over investment into some areas, underinvestment in others. If it happens naturally productivity will increase over time and it will do so in line with consumer demand. What that means is over time other countries simply won't be able to compete unless they keep getting subsidies up the wazoo which, as the USSR proves is only maintainable for so long.
I dont have these discussions to change the world, but to stimulate my mind, learn, and open my and others eyes to potential threats/ problems. I have a feeling corruption could validate harmful behaviour and the temptation of dollar signs would impair most peoples ability to make an "earth friendly" decision/s.
They don't have to. Afterall what makes people make iron friendly decisions? Nothing but incentive. When the air, like iron, becomes an owned commodity use of it for one purpose, dumping, necessarily lowers its overall value, especially when it comes to its use for other purposes. The incentive is to increase supply and find the marginal limit of acceptabkle pollution. This is more evident in the water ways.
Say you've got a river and a company wants to use it for dumping. That's nice, but people also want to use it for fishing, swimming, boating, drinking, and whatever else. Dumping has to compete with
all those other uses for which people are willing to pay. And in the same way you can only use your property to the extent it doesn't interfere with someone else's use of theirs, same thing goes. Dump all you want and charge for it, but if it makes someone else's water undrinkable you've violated their property rights, similar to just dumping garbage on their front lawn, and have to stop or pay them to continue. And they may not give a damn how much you're willing to pay. That's another aspect of private ownership in these resources that makes it very suitable for this purpose: because what you do hundreds of miles away might affect someone else's property. That means the technical unit of property as determined by actions intefering with one another is massive. That means the cost of doing things that really do reduce the option of other uses to the air and water would be massively expensive. Check out Walter Block's work on what he call's "the hold out."
The other major issue is getting the entire world on the same page, everyone wants a piece of pie but noone wants to cook.
True. But as above they have to compete with productive uses of those resources, and at that level I have no problem with some government involvement. It's really no different at that point than China dumping their trash in your yard. If their use of the resources affects us, let them pay like everyone else, and let the government enforce that internationally just as it would have some enforcement duties here. The point is they wouldn't own the resource and wouldn't be setting the prices, merely protecting property rights.:bow28: