Henry George's Contribution to Modern Environmental Policy: Part I, Theoretical Postulates

Jürgen Backhaus and J J Krabbe

American Journal of Economics and Sociology, 1991, vol. 50, issue 4, 485-501

Abstract: Abstract Many natural resources are inefficiently used in advanced western economies Overuse of common property resources such as air occurs The assignment of property rights through grandfathering established uses can have disincentive effects as an entry barrier to new industry and allow the continuation of pernicious uses A Henry George type alternative remedial system of legal and tax treatment is developed It systematically covers all natural resources and their deteriorations, as well as improvements This updating should be extremely useful to everyone concerned with ecology. Also the task of industrial siting can be accomplished so as to ensure an efficient use of natural resources Present problems of dealing with pollution and hazardous waste sites under tort law would be avoided This part of the two‐part paper covers the basic theoretical considerations The next issue of this Journal will include the application of the theory

Date: 1991
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