Trade my gasoline spill for your 'red mud' dump: A '(Vi)Pareto' Opportunity in Environmental Finance
Ganga Prasad Rao http://myprofile.cos.com/gangar Disclaimer : As with other columns and blogs in this series, the author makes no claims to factuality, or the outcomes therefrom. The author also explicitly rejects culpability for any financial, environmental, legal or other undefined impacts that might follow from adopting this proposal. For decades, even the US, the nerve center of capitalism, evaded economics in its environmental policy-making despite evidence inefficient regulations were costly to the environment and the economy. Instead, it chose to persevere with medical risk benchmarks and technological innovation to guide its environmental programs and standards. Then came the pollution trading schemes in which firms and industries could trade their current and future emissions with each other and re-allocate production resources to jointly achieve economic and environmental goals. It was theoretically sound, practically feasible, and demonstrably a success. But, there has been