The Trump administration has been reversing many of the measures taken by the Obama administration to protect clean air and water. The effect has been to increase profits for some industries (notably chemical and fossil fuels) while reducing profits for other industries as well as public health and safety. 

a. How should we evaluate these policy changes? How can we tell if they are good or bad? 

b. If people don’t like the Trump Administration’s actions, how might they get the industries that benefit to stop polluting? Could the market lead to the efficient level of pollution if there are full and clear property rights? 

c. By themselves, the United States, the People’s Republic of China and India account for almost half of world greenhouse gas emissions causing catastrophic climate change. Many of the poorest countries, including those producing the fewest greenhouse gases, will suffer the most from climate change. 

i. Why don’t countries most threatened, pay the polluters to stop? 

ii. Even the rich will suffer from climate change. Use game theory and the prisoners dilemma to explain why China, India, and the United States don't agree to stop polluting.

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Answer Step by Step Explanation From an economic point of view preventing all the pollution is never ... View the full answer