Economics » Environmental Protection and Externalities » The Benefits and Costs of U.S. Environmental Laws

Key Concepts and Summary

Key Concepts and Summary

We can make a strong case, taken as a whole, that the benefits of U.S. environmental regulation have outweighed the costs. As the extent of environment regulation increases, additional expenditures on environmental protection will probably have increasing marginal costs and decreasing marginal benefits. This pattern suggests that the flexibility and cost savings of market-oriented environmental policies will become more important.

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