{"id":33045,"date":"2015-10-05T04:00:40","date_gmt":"2015-10-05T08:00:40","guid":{"rendered":"http:\/\/quotulatiousness.ca\/blog\/?p=33045"},"modified":"2017-07-14T10:16:06","modified_gmt":"2017-07-14T14:16:06","slug":"trading-pollution-how-pollution-permits-paradoxically-reduce-emissions","status":"publish","type":"post","link":"https:\/\/quotulatiousness.ca\/blog\/2015\/10\/05\/trading-pollution-how-pollution-permits-paradoxically-reduce-emissions\/","title":{"rendered":"Trading Pollution: How Pollution Permits Paradoxically Reduce Emissions"},"content":{"rendered":"<p align=\"center\"><iframe loading=\"lazy\" width=\"853\" height=\"480\" src=\"https:\/\/www.youtube.com\/embed\/9tUb3MDrgEc\" frameborder=\"0\" allowfullscreen><\/iframe><\/p>\n<blockquote><p><strong>Published on 18 Mar 2015<\/strong><\/p>\n<p>In an effort to reduce pollution, the government tried two policy prescriptions under the Clean Air Act Amendments of 1990. The first \u2014 command and control\u2014mandated that each power plant lower its pollution by a determined amount. However, different firms face different cost curves and, because information is dispersed, policymakers don\u2019t always know those costs. The second policy prescription \u2014 tradable pollution permits \u2014 empowered firms to use knowledge of their cost curves to buy or sell pollution permits as needed. Under this policy, the invisible hand of the market helped discover the lowest cost way of reducing pollution.  <\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Published on 18 Mar 2015 In an effort to reduce pollution, the government tried two policy prescriptions under the Clean Air Act Amendments of 1990. The first \u2014 command and control\u2014mandated that each power plant lower its pollution by a determined amount. However, different firms face different cost curves and, because information is dispersed, policymakers [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":35193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25,65,84],"tags":[1026,443,1143,661],"class_list":["post-33045","post","type-post","status-publish","format-standard","hentry","category-economics","category-environment","category-government","tag-microeconomics","tag-pollution","tag-principlesofeconomics","tag-regulation"],"jetpack_featured_media_url":"https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2016\/06\/favicon.png","jetpack_shortlink":"https:\/\/wp.me\/p2hpV6-8AZ","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/33045","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/comments?post=33045"}],"version-history":[{"count":2,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/33045\/revisions"}],"predecessor-version":[{"id":33047,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/33045\/revisions\/33047"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media\/35193"}],"wp:attachment":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media?parent=33045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/categories?post=33045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/tags?post=33045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}