What do defenders of the market approach to environmental responsibilities state about the ability of economic markets to achieve a sound environmental policy? Discuss if their responses are environmentally adequate.
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As an organization becomes more sensitive to environmental issues, it may adopt this approach. Here, organizations respond to the environmental preferences of their customers. Whatever customers demand in terms of environmentally-friendly products is what the organization provides. This approach illustrates social responsiveness. Defenders of market approach maintain that economic markets has the ability to achieve sound economic policy because they are able able to respond to customer demands while considering sustainability of the environment. Their responses are adequate to some extent though there is need for legal control and push from environmental activists.
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