Cite JOURNAL ARTICLE
The Greenhouse Effect, Property Rights and Developing Countries
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 113 (1993), Iss. 2 : pp. 255–272
To deal with the problem of the greenhouse effect it is suggested to create and assign the global property right to emit C02 (with its holder restricted to set a uniform price for both emission and absorption of C02 and to equate revenues and expenses) in order to reach the plausible aim of a zero C02 net emission.
Though both practicable as a "third-best" policy relying mainly on market forces and ethically acceptable (due to the possibility of transfers to the developing countries) there are serious political obstacles to be overcome.