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Assess the relative merits of command and control, emissions tax, emissions abatement subsidy and marketable permit instruments [60 marks]. Drawing on the results from the relevant economic experiments provide some policy advice on the design of marketabl - Essay Example

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As the global business environment becomes highly competitive, it is important that the activities and programmes of entities on the business environment be monitored. Such monitoring is necessary to ensure that the quest to be competitive does not result in the need to taking…
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Assess the relative merits of command and control, emissions tax, emissions abatement subsidy and marketable permit instruments [60 marks]. Drawing on the results from the relevant economic experiments provide some policy advice on the design of marketabl
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Extract of sample "Assess the relative merits of command and control, emissions tax, emissions abatement subsidy and marketable permit instruments [60 marks]. Drawing on the results from the relevant economic experiments provide some policy advice on the design of marketabl"

Download file to see previous pages Based on the analysis, there will be recommendations made on the best way to approach each of these policies.
CAC regulation can be explained to be an approach regulating industries whereby there is the application of direct regulation on activities by the use of legislation (Goulder and Parry, 2008). Such legislation clearly states actions that are considered permissible and those that are illegal. The use of CAC regulation has a number of merits. In the first place, it has been described to be a proactive approach to dealing with most of the issues that face society and for that matter the environment today. CAC regulations are considered proactive as they emphasise on enforcement rather than enactment (Holling and Meffe, 1996). It would be noted that most of the environmental issues that face society today such as the depletion of the ozone layer, greenhouse gas emission and environmental degradation are all issues that require proactive approaches to salvage them, given the depth of their effects. What is more, CAC regulations have been found to be beneficial when it comes to the need to having a swift way of acting. Unlike the use of economic incentives which take long to implement, CAC is not only a proactive way of getting things done but it also makes it possible to do things in the quickest while. In most of the cases, all that is required is to get lawmakers to agreeing to the merits of the laws so that they can be passed and implementation started.
The use of emissions tax is one of the most popular ways in which legislators, particularly the government have applied CAC. The carbon tax is one of such popular emissions tax. Generally, emissions tax is in place to ensure that a tax is levied on the pollutant content of fuels and other industrial products (Goulder and Parry, 2008). From the diagram below, it would be noted that emissions tax work on the basis of key economic models and ...Download file to see next pagesRead More
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