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Environmental Capitalism: The Power of Cap and Trade

Environmental Capitalism: The Power of Cap and Trade

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Published by Brandon Caroprese
This document in my senior year dissertation for the Honors Department at Seton Hall University.
This document in my senior year dissertation for the Honors Department at Seton Hall University.

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Published by: Brandon Caroprese on Feb 02, 2010
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09/29/2010

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Seton Hall University
UNIVERSITY HONORS PROGRAMThesis Advisor: Dr. Peter G. Ahr, Ph.D.
ENVIRONMENTAL CAPITALISM
 
THE COST-EFFECTIVENESS AND PRODUCTIVITY OF CAP AND TRADE
BRANDON L. CAROPRESE2010
 
Environmental Capitalism B. Caroprese2
 
Table of Contents:
 
 
Introduction
 
Scientific Case for Environmental Change
 
Factors in Arriving at the Instrument of Choice
 
Current Environmental Policy Analysis
 
The Opposition to Climate Change
 
Taxation: A Necessary Comparison
 
Cost-Effectiveness and Productivity
 
Capital Investment Decision Factors
 
Conclusion
 
 
Annotated Bibliography
 
 A special thanks to Dr. Ahr and the Honors Program for providing me with an excellent education, and also to Colin, Sean, Dominick and James for their help in making this a success.
 
 
Environmental Capitalism B. Caroprese3
 
Introduction
The mal-distribution of wealth around the world, the plight of millions of people indeveloping countries and the inescapable greed of self-interested businessmen each contribute toquestioning the virtue of capitalism in society today. It is true that capitalism has been traced tocrimes against innocent laborers and struggles between social classes; however, there have beenmany instances in which capitalism has been highly beneficial. The intellectual and economicdevelopment of Eastern Germany after the fall of the Berlin Wall and the rapid economic growthof modern Italy after World War II are two illustrative examples of the potential benefit thatcomes about from free-markets. Despite the
disappointments of capitalism‟s rapacious history,
it is difficult to envision a society which is not consumed by greed. It can even be argued thatRussian commissaries were motivated by covetousness. The truth is that the world runs onindividuals pursuing their self-interests. The greatest achievements in this world did not come asa result of bureaucracy or government order. Thomas Edison was not instructed in thedevelopment of the light bulb and Albert Einstein was not directed in the advancement of hismathematical models. Henry Ford did not become one of the greatest proponents of mass-production under order from government officials. On the other hand, the worst cases of severepoverty and restricted human rights are in those societies which depart from capitalism and thevast economic power of free-trade. The productivity and development which is unleashed by astrong democracy and a capitalist economy can quickly limit the threat
of humanity‟s most
critical problems.Throughout the last two centuries, economic development and the industrialization of society have caused an astounding increase in the quality of life around the globe. Propertyrights and the right to choose, which in the past were freedoms only the aristocracy enjoyed, are

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