PERC Policy Series: February 1995

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Reinventing Environmentalism in the New Era

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A Summary

In this paper by Terry L. Anderson, PERC recommends market-based policies for a wide range of environmental problems. "It is time to establish a new environmental agenda," says Terry L. Anderson, PERC executive director. "This must be a positive agenda - - one that will provide environmental quality and at the same time restore fiscal responsibility, lift onerous regulation, and promote the fair application of environmental laws."

This paper brings together recommendations from leading market-oriented scholars. In addition to Anderson, they include : John L. Dobra, B. Delworth Gardner, Jeffrey T. LaFrance, Donald R. Leal, Richard L. Stroup, Myles J. Watts, and Bruce Yandle. Among their recommendations for change:

Endangered Species Act: The federal government should compensate private landowners when it imposes habitat management rules that reduce the land's value.
Grazing: Grazing permits should be privatized. The rights can be sold to current permittees at a price equal to or slightly above the discounted present value of current grazing permits.
Farm Bill: Subsidies should be eliminated. If this is politically infeasible, payments should be "decoupled" from production. This will reduce the incentive to farm on risky and erodible land.
The Clean Water Act: Water quality standards should be set locally. River basin management associations should address nonpoint pollution through market trading.
Recreation: People should pay to use the federal lands for recreation. An annual recreation stamp similar to the federal duck stamp for hunting could be the mechanism.
The paper also addresses mining, fisheries, timber management, and Superfund.

 

"Progress toward improving our environment cannot solely rely on environmental regulations."