Topic 3 DQ 2

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Economics

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Jan 9, 2024

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Refer to Chapter 10 in the textbook which discusses externalities. Specifically, reference section 10-2, which details public policies towards externalities. Additionally, find an article using your subscription to the Wall Street Journal detailing one proposed solution to pollution. In your post, summarize the selected article and discuss the following:  Explain which of the public policies detailed in section 10-2 of the textbook best describes the proposed solution in the selected article.  Which of the public policy approaches outlined in section 10-2

would work best to resolve this pollution problem and why?  Hello Professor,  Hello Class and Dr Archer,  The proposed solution in the selected article titled "What is the Future for Carbon Capture Technology" aligns more closely with market-based policies rather

than command-and-control policies outlined in sections 10-2 of the textbook. The article discusses the use of subsidies, specifically the 45Q tax credit for carbon capture and storage (CCS), as a way to promote the reduction of carbon dioxide emissions. This approach involves providing

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financial incentives to companies that capture and store carbon rather than imposing direct regulations.  In contrast to command-and- control policies, market-based approaches, such as subsidies, create economic incentives for businesses to adopt

environmentally friendly practices without imposing rigid restrictions. The 45Q tax credit encourages the adoption of CCS technology by providing financial benefits to companies that capture and store carbon dioxide.  While command-and-control policies might be effective in clear-

cut cases where external costs are severe, they can be inflexible and inefficient. In the case of the article, a direct prohibition on fossil fuel use or stringent emission limits might not be practical or feasible, given the current reliance on these energy sources. Instead, the use of

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subsidies serves as a more flexible and market-driven approach to encourage the adoption of carbon capture technology without imposing strict regulations.  All the best,  

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