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Home / Working Paper Series / Working Paper # 4 Market Correction: Economic Incentives for Sustainable Development (November 1992)

Working Paper # 4 Market Correction: Economic Incentives for Sustainable Development (November 1992)

By Mike Kelly, NRTEE

Working Paper # 4 Market Correction: Economic Incentives for Sustainable Development (November 1992)The purpose of this paper is to provide a digestible introduction to the use of market-based policy instruments and their application in Canada. The immediate goal of an economicinstrument is to achieve a given level of environmental protection at the least cost to society. The purpose of economic instruments is to integrate environmental consequences into economic decision making at all levels: governments, the private sector and individual consumers. If environmental costs are built explicitly into the prices of goods and services, the responsibility for environmental consequences is put where it belongs, on the user, beneficiary and the final consumer of natural capital.

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Working Paper # 4 Market Correction: Economic Incentives for Sustainable Development (November 1992) (4.60 Mb - 46 pages) Date: 1992