DiscussionThread: 9.1 What are the policy tradeoffs among environmental protections, profits and economic growth & private property rights?

The Parable of the Commons shows us that economic incentives can sometimes come in conflict with the long-term protection of the commons. Even though the users of the commons were acting rationally to increase the number of sheep grazing on the commons, they were in fact acting irresponsibly to do so. National governments and IGOs also face this dilemma when it comes to deciding environmental policy. How much use of the commons is enough and how much is too much?

So environmental policy impacts economic policy and individual property rights and vice versa. National and global governments must determine the right policy mix.

Students are asked to answer the following question: What are some of the essential policy trade-offs among environmental policy, economic policy, agriculture policy, and the private property rights of the citizens that governments must decide? Use course material, principles, and examples from Pease Chapter 8 to illustrate thee trade-offs.