Some people object to market-based policies to reduce pollution, claiming that they place a monetary value on

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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 clean-up even under command-and-control policies.

Discuss why this is true.

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Economics

ISBN: 124344

2nd Edition

Authors: N. Gregory Mankiw

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