IDEAS home Printed from https://ideas.repec.org/a/sae/anname/v389y1970i1p56-62.html
   My bibliography  Save this article

Economic Responsibility for the By-Products of Production

Author

Listed:
  • Allen V. Kneese

    (Resources for the Future, Inc., Washington, D.C.)

Abstract

The central concepts governing resources- allocation in the United States have historically been private property, freedom of exchange, and competition. The social engine built on these concepts has produced rapid exploita tion of resources and rapidly rising per capita income in the United States. In recent years, however, resources which cannot readily be reduced to private ownership have become rapidly more important, and they are being overused and mis used. The pollution of such "common property" resources as water and the air mantle is inherent in an economic system such as ours, once a certain stage of economic development is reached. To deal successfully and efficiently with these prob lems will require designing new governmental institutions and, especially, altering our system of incentives in such a way that the value of common property resources is reflected in market-type decisions.

Suggested Citation

  • Allen V. Kneese, 1970. "Economic Responsibility for the By-Products of Production," The ANNALS of the American Academy of Political and Social Science, , vol. 389(1), pages 56-62, May.
    • Handle: RePEc:sae:anname:v:389:y:1970:i:1:p:56-62
    DOI: 10.1177/000271627038900107
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/000271627038900107
    Download Restriction: no
    File URL: https://libkey.io/10.1177/000271627038900107?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:anname:v:389:y:1970:i:1:p:56-62. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.