Alright, the title is provocative enough to get a response out of you.
You know what happened with CFCs and the ozone layer. Is this an example of the market “failing the social good?”
Were property rights violated by emitting CFCs? Is there an easement to the ozone layer that humans have?
Was CFC emission a government problem in the first place?
How could the free market have “solved” CFCs and why didn’t it do that (supposedly) before government got involved?
You know what happened with CFCs and the ozone layer.
Do we? I haven’t really researched the topic but I read somewhere that the CFC’s that were supposedly destroying the ozone layer never made it up high enough to do that. The question is worth asking.
Is this an example of the market “failing the social good?”
No.
Were property rights violated by emitting CFCs?
Depends on the answer to my first question, but yes, conceivably they were.
Is there an easement to the ozone layer that humans have?
Of course. You can’t dam up a river if I am living downstream and have established use of that river. Nor can you rip open the ozone layer and interfere with my established use of property on the planet’s surface.
Was CFC emission a government problem in the first place?
Partly. Because government monopolized the court system for dealing with disputes.
How could the free market have “solved” CFCs and why didn’t it do that (supposedly) before government got involved?
Through torts. But the market is not allowed to operate in this industry, which is why it didn’t. So any failure of the courts to address the problem would have to be a government issue, since the government claims a monopoly in that area.
It represents a market opportuniy actually.
Phaedros, care to explain?
@gocrew - the server ate my post. When my rage subsides tomorrow I will reply.