POL 203 Lecture Notes - Lecture 10: Common-Pool Resource, Market Failure, International Tropical Timber Organization

• School: Ryerson University
• Department: Politics and Public Administration
• Course: POL 203
• Professor: Adam Thorn

Document Summary

Local government in canada- municipal seen as stupid cousin but has important role in environmental problems. Role of the courts and grassroots campaigns- strong enough to deter pesticides at municipal level. Courts don"t play that big of a role usually but in this case did. We look at how the market plays role in environment. We think that market is leading cause of environment probs but it is actually a solution because it provides incentives. The voluntary exchange of goods and services where the price is determined by supply and demand. Set of institutions where decisions are made by buyers and sellers. Rules about the market are (generally) created by the state. Market failure the market is inefficient when allocating common pool resources. When the market doesn"t do what it"s supposed to do. Common pool, toll goods, private goods- point is you use this to make money. Free rider problem- atmosphere and water highly susceptible to this.