If someone owned the property rights to clean air, that person could charge for the use of the clean air in a market for clean air and, thus, air pollution could be reduced to the optimal level.

Question

Quizplus · Accepted Answer

This is a concept known as "cap-and-trade" where a system is put in place to limit the amount of pollution that is deemed acceptable and companies can either reduce their emissions or buy credits from those who have reduced their emissions more than necessary. This has been successfully implemented in other countries and industries.

If Someone Owned the Property Rights to Clean Air, That