Anonymous asked: Hello! Do you think that environmental protection can successfully be driven by free-market forces? Can we find a successful solution (or a means of mitigation and/or adaptation) to climate change in a free-market?

Hey anon,

Thanks for the note. There’s more than one way to manage the environment, and the majority are not free market approaches.

There are many different “environments” that require a mix of solutions. State and federal parks and conservation areas, for example. Research forests, coastal develop restrictions, historic preservation, agricultural techniques, even local zoning by-laws all serve to protect the environment in various ways. And then there’s are huge federal laws like the Endangered Species Act and enforcement agencies like the Environmental Protection Agency.

So, I take issue with the premise of your question. I suppose you’re getting at trading carbon credits, which I’ll have to defer on commenting on.

For now, check out Valuing Ecosystems Services.

Cheers!

Michael