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ECO 561 Government Intervention Presentation

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Government Intervention The Clean Air Act July 4, 2019 ECO/561 Mr. Steven Krohn Agenda ◼ ◼ ◼ ◼ ◼ ◼ ◼ ◼ ◼ ◼ Introduction History Market Based Solutions Intervention Externalities Cost Trend Success or Failure Conclusion Questions References Introduction ▪ The clean air act : Pollution = negative externality ▪ Types of government intervention: Economic regulations – consumers and business protection, destructive competition price control Social regulations – Non economic objectives: cleaner environment, prohibit harmful corporate behavior, safer workplace ▪ Reasons for government intervention – market inefficiencies, market failures due to externalities (Lumen Learning, 2018) History ◼ First pollution control laws Clean air act of 1963, clean water act of 1972, and safe drinking water act of 1974 ◼ 1970: U.S. Environmental Protection Agency (EPA) ◼ 1977 & 1990 some revisions (EPA, 2018) Market – Based Solutions ◼ Government – obligation to protect the earth’s ecosystems ◼ Not intervention – Negative economic impact ◼ Pollution – an externality that market-based forces are not able to address (Lumen Learning, 2018) Intervention Who may be helped ◼ ◼ ◼ Business – new opportunities in an industry that is growing Economy – pollutant controls contribution to economic activity and growth Population – better quality of life, and increase employment in the environment industry Who may be hu ...
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