Accounting and Society - Essay Example

Only on StudentShare

Extract of sample
Accounting and Society

In contrast, conventional approaches to regulating the environment characteristically force entities to implement the same pollution control strategies, irrespective of the relative costs to the entities. This can be expensive and equally counterproductive since, although, the approach succeeds in limiting emissions, the attainment of the results is in an unjustifiably pricey way (Oates, Paul and Albert 1989, p.1233).
Non-market-based approaches offer minimal or no incentive whatsoever to do better than what the law demands, or no room to develop and experiment with new technology and equipment that might yield enhanced improvement in pollution control (Hahn and Stavins 1991, p.2). The net result in this case is a drag on productivity and criticisms regarding regulatory inefficiency, all of which undermine commitment to attainment of environmental gains. This observation shapes the call for regulation based on free-market and pro-regulatory approach as it delivers more gains to the society as a whole. Economists criticize non-market-based approaches approach to regulation by citing its costliness and rigidity (Driesen 2003, p.137). From late 1980s, market based instruments for environmental regulation gained prominence such as emissions trading programs. ...
Download paper

Summary

Free markets can be a solution to environmental challenges, and can be more successful compared to no-market based approaches in solving majority of diverse environmental problems. …
Author : owaelchi

Related Essays

Accounting and Society(The Minerals Resource Rent Tax)
12 pages (3012 words) Essay
Management Accounting
10 pages (2510 words) Coursework
Relevance of Management Accounting in Today's Society
7 pages (1757 words) Research Paper
International Financial Accounting and Theory
6 pages (1506 words) Essay
Accounting, Society and Enviroment
5 pages (1255 words) Essay
accounting
4 pages (1004 words) Assignment
Accounting and Society
18 pages (4518 words) Essay
Intangible assets
3 pages (753 words) Research Paper
Got a tricky question? Receive an answer from students like you! Try us!