Question

How do the conservatives, liberals and radicals believe that the optimal rate of pollution should be determined? How does each group believe firms should be forced to comply with the optimal rate of pollution?

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Answer 1

Pollution is an international issue and each nation has actually developed its own method of abatement of contamination. In the United States, there are three contrasting views on pollution led by all three different political groups, Conservatives, Liberals and Radicals.
Conservatives believe that the government needs to have minimum participation in the production of the federal government due to the fact that pollution has no or little result on the economy. Thus there must be no or very little government policy of the environment. They advocate cap-and-trade programs, emission fees.
On the other side, there is a Liberal who holds severe views. They think that pollution is a macroeconomic problem and thus it enforces a big externality on the environment. Hence, the Government must interfere in the production procedure and therefore, need to heavily manage service activities to protect the environment from getting polluted. Taxes, fines, licensing, regulatory charged all should be imposed so that they deal with the true cost of their action. Even a subsidy is a choice.
The third group called Radicals think that pollution is not a huge concern and is caused by only a small piece of the total population of the world. They propose a unique approach of handling contamination by eliminating private property. They argue for permitting all those people to identify how to handle the cases of pollution themselves who are impacted by pollution. This is due to the fact that the actual cost of pollution is constantly underestimated.

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