Question

"Emission taxes are a nice theoretical idea but they are not a practical solution for most...

"Emission taxes are a nice theoretical idea but they are not a practical solution for most local air pollution problems." Do you agree or disagree? Discuss

Homework Answers

Answer #1

I agree with the statement. Emission taxes are not a practical solution for most local air pollution problems. To implement emission taxes, we must have full information about the abatement costs. Setting a tax rate is a one-size fits all solution which may not be best for all because of following reasons:
a. Setting a too high rate may push the firms to buy wrong machinery so as to minimize emissions but could affect their profits.

b Setting . a too low rate could imply that the firms won't invest in curbing pollution and may instead hard the environment.

c. The marginal abatement cost function of the firms is not likely to be stable over time. This can create problems for the policy makers in deciding the rate of taxation.

d. Considering a huge number of pollutants, it may not be practically possible for the policy to set emission tax for each of the pollution.

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