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Pangloss on Pollution

In: The Economics of Environment

Author

Listed:
  • E. J. Mishan

    (The American University)

Abstract

On being interviewed, Dr Pangloss asserted that optimality is uniquely determined irrespective of legal or distributional considerations; moreover, that pollution above a theoretical optimum could be justified economically in so far as the heavy transactions costs of correcting the existing suboptimal position are real costs and exceed the optimality gains.

Suggested Citation

  • E. J. Mishan, 1971. "Pangloss on Pollution," Palgrave Macmillan Books, in: Peter Bohm & Allen V. Kneese (ed.), The Economics of Environment, pages 66-73, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-01379-1_5
    DOI: 10.1007/978-1-349-01379-1_5
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    Cited by:

    1. Clive L. Spash, 2024. "Exploring economic dimensions of social ecological crises: A reply to special issue papers," Environmental Values, , vol. 33(2), pages 216-245, April.
    2. Clive L Spash, 2009. "Social Ecological Economics," Socio-Economics and the Environment in Discussion (SEED) Working Paper Series 2009-08, CSIRO Sustainable Ecosystems.
    3. Rahman, Akim M. & Edwards, Clive A., 2004. "Electricity: taxes on emission liabilities. An examination of the economic effectiveness of Polluter Pays Principles," Energy Policy, Elsevier, vol. 32(2), pages 221-235, January.

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