‘A fine is a tax for doing something wrong. A tax is a fine for doing something right.’ Discuss. Some people object to market-based policies to reduce pollution, claiming that they place a monetary...

‘A fine is a tax for doing something wrong. A tax is a fine for

doing something right.’ Discuss.

Some people object to market-based policies to reduce

pollution, claiming that they place a monetary value on

cleaning our air and water. Economists reply that society

implicitly places a monetary value on environmental cleanup even under command-and-control policies. Discuss why

this is true.