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Ray Powell, Head of Economics at King's College School, Wimbledon and Chief Examiner in A Level Economics for AQA, discusses government failure and two examples of government intervention relating to the environment.
* Government policies which affect the environment mostly try to reduce or eliminate negative externalities such as pollution and road congestion.
* Government policies to improve the environment do not always succeed.
* Public interest theory argues that government intervention to improve the environment generally improves economic welfare.
* Public choice theory adopts the opposite approach, arguing that badly thought-out intervention makes matters worse.
* There is a case for the government providing pure public goods that have an environmental impact - and for removing public bads such as garbage.
* By creating market-based incentives, some forms of intervention, such as tradable permits to pollute, are most likely to be successful.
PDF format: 4 A4 pages. First published in Economics Today magazine March 2004.
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