1. Globalization
... failure. Market failure is when those who are producing or consuming goods or services do not have to bear the full costs of their actions, such as the cost of pollution. The remedy is to make the polluter pay. Indeed the principle that the polluter should pay is an important Principle in both the Kyoto Protocol greenhouse gas emissions and agreements ... rain in the United States and Europe. What is required to impose "polluter pays" principles on a global basis is stronger democratic institutions so that those who feel the impact of pollution can exercise their political rights to hav...
- Word Count: 2555
- Approx Pages: 10
- Grade Level: Undergraduate