Topic 3 DQ 2

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Jan 9, 2024

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Refer to Chapter 10 in the textbook which discusses externalities. Specifically, reference section 10-2, which details public policies towards externalities. Additionally, find an article using your subscription to the Wall Street Journal detailing one proposed solution to pollution. In your post, summarize the selected article and discuss the following:  Explain which of the public policies detailed in section 10-2 of the textbook best describes the proposed solution in the selected article.  Which of the public policy approaches outlined in section 10-2

would work best to resolve this pollution problem and why?  Hello Professor,  Hi all,  In this particular Wall Street Journal article, some older coal- fired power facilities may be forced to close as a result of the proposed restrictions (). The

article's suggested regulations offer a mix of command-and- control measures and market- based incentives. The emphasis on tougher air-quality standards and additional pollution limitations shows a command- and-control approach to addressing environmental issues

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by directly controlling behavior. At the same time, the coordinated approach and the objective of expanding the EPA's capabilities hint at a market-based component, potentially establishing a regulatory framework that incentivizes clean energy investments. The problem

is to strike a balance between environmental aims and potential financial impacts on the electricity sector, particularly for aging facilities. The most successful public policy strategy to resolving the pollution problem is dependent on a variety of circumstances, and a mix of

measures is probably beneficial. In the context of the proposed power plant regulations in the article, a combination of command-and-control measures and market-based incentives is necessary. Command and Control Policies: Benefits: Direct pollution rules

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provide defined criteria, assuring a minimum degree of environmental protection. This method can successfully target certain pollutants and businesses. Importance: As indicated in the article, stricter air-quality standards and limitations on hazardous pollutants correspond

with the command-and-control system, which aims to directly manage harmful emissions.  Incentives Based on the Market: Benefits: Providing economic incentives encourages companies to voluntarily embrace greener technology. It encourages innovation and provides for

greater flexibility in achieving environmental goals. Relevance: As noted in the article, coordinating power sector laws while utilizing a broad range of authorities proposes a market- based strategy. Clean energy investment incentives are consistent with market-driven

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techniques. A more effective strategy would be one that strikes a balance between the qualities of both methods. While direct rules assure immediate conformity, market-based incentives promote long-term sustainability and innovation. It is critical to adjust

policy to specific environmental concerns while also taking into account economic implications and the ability to react to emerging technology. The approach's success will be determined by the details of implementation and continuing

review to meet developing environmental problems.   Dow Jones & Company. (2022, January 25). WSJ News Exclusive | new EPA rules to Target Power Plant Pollution . The Wall Street Journal. https://www.wsj.com/art icles/new-epa-rules-to-target-

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power-plant-pollution- 11643112003 

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