what government agency has the responsibility to handle investor-related issues
In that location is an ongoing debate most the appropriate office of government for solving environmental problems, with many environmentalists calling for increased government intervention and many people more than predisposed to individual responsibility calling for less.
Without getting into a long discussion on political and economic philosophy (for now), here are a few observations on this important topic:
- Proponents of classic liberalism — property rights, free markets, the rule of law, individual liberty — assume that as data improves, individual markets will lead to the increased preservation of environmental resources, and that externalities (eastward.thou., pollution) volition be internalized (eastward.g., taken into account by individual actors) given a organization of strong holding rights. While much improvement in the environmental arena has occurred for this very reason, and much of this is due to property rights and ameliorate scientific knowledge, many famous economists vastly under-estimated the level of coordination required to tackle some of the world's most serious environmental problems. Issues such as global warming and the loss of biodiversity crave much more government intervention then had previously been assumed. This is not to say that this government intervention won't rely heavily on the workings of the market organization, but simply that summit-down regulation is absolutely necessary. At that place is simply no manner to adequately address these issues without a strong commitment from the federal authorities, which will eventually include a high level of international cooperation. Policies such as accented limits on CO2, government funding of alternative-energy systems, and coordinated efforts to buy and protect biodiversity hotspots around the globe will demand to be a major component of hereafter government policy.
- Facing increased probabilities of natural disasters (many presumably due to global warming), the government should move us towards a more rational method of chance management in areas prone to natural disasters. It is highly inefficient, as well equally an abrogation of government responsibility, to create incentives for people to live in areas that are both dangerous and prone to ending by providing them with reconstruction help every time disaster strikes. The government has 2 options; either require that all people living in hurricane zones, overflowing plains, or near fault lines purchase individual insurance, or make it absolutely articulate that people volition not be compensated for their loss of holding past the authorities if disaster strikes. Such a policy would no doubt pb to dramatic shifts in the population densities in many disaster-prone areas of the country, and perhaps some one-time assistance for relocation would be required. The cyberspace effect would be to dramatically reduce future losses of life and property and save the government hundreds of billions in futurity costs. It would also strength private actors (notably insurance companies) to fully take into business relationship the effects of environmental externalities that until now have largely been ignored.
- Regarding personal health and risk, the government must play a much more agile office than typically advocated past some of the strongest proponents of free markets. Milton Friedman famously noted that there is no employ for the Food and Drug Administration since companies whose products atomic number 82 to illness will be forced out of the market place (i.e., products that brand people sick will not be bought). What he failed to realize is that if someone gets ill, it is extremely hard to trace the source of the illness, and without government regulation many companies that poison consumers could in fact operate profitably for long periods of time. But Friedman did have a point in that as people expect more and more toward government to regulate the economic system, they sometimes practise decrease the effort they invest in making wise choices for themselves (e.g., does anyone really need the regime to tell them that "fast food" is bad for y'all?). This being said, it is clear that in this highly complex and inter-connected system, where nosotros all are exposed to thousands of chemicals a twelvemonth, many of which interact in ways that aren't yet fully understood, where it is difficult to trace the origin of products, and where the effects of these products often don't manifest for years, the government must play an agile office in regulation. The information bug are too complex for individuals to cope with (and, unfortunately, governments, at this point). The Nutrient and Drug Administration, the Environmental Protection Bureau, and the U.Southward. Department of Agriculture should all be well-funded, be decoupled from conflicts of interest with industry, and their mandate to protect the public welfare through rational risk assessment should exist strengthened.
P.Southward. A futurity piece volition add some caveats to the higher up and provide more examples.
Jim Moriarty, president of Surfrider Foundation, answers questions
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Source: https://grist.org/article/the-role-of-government-in-environmental-protection/