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| Author: | Altman, M. |
| Title: | When green isn't mean: economic theory and the heuristics of the impact of environmental regulations on competitiveness and opportunity cost |
| Journal: | Ecological Economics
2001 : JAN, VOL. 35:1, p. 31-44 |
| Index terms: | COMPETITIVENESS ECOLOGY ECONOMIC THEORY ENVIRONMENTAL PROTECTION OPPORTUNITY COSTS |
| Language: | eng |
| Abstract: | The conventional neoclassical economic wisdom argues that the opportunity costs of environmental regulations are high, with negative implications for costs and profits and, by imlpication, for growth and per capita gross domestic product (GDP). The minority view that environmental controls induce cost offsets that minimise such opportunity costs is marginalised by the conventional wisdom, which assumes that economic agents are x-efficient in production prevails even in a world of perfect product market competition that is dominated by rational economic agents. |
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