In the 20th century rapid economic development has resulted in environmental problems. Hence, environmental pollution has been a cause for concern for the past few decades. The greenhouse effect caused by the release of carbon dioxide for example has become a main focus in the world. Newspaper headlines, academic material and protests by various environmental activists have forced each one to be aware of their responsibility towards to environment. There has been an increasing divergence in the views between ecologists and economists whereby the ecologists have a very pessimistic view of the environment in the future, where they believe that the resources are depleting at very fast rate; on the other hand the economists have an optimistic view. Supported by statistical evidence the economic point of view for the future suggests that poverty levels are reducing, the natural resources will last for another 150 years. Government regulation is an alternative method of seeking to protect and preserve the quality of the environment. Regulation however does not always lead to ideal outcomes, and it can be enormously expensive. Regulation is not always based o market systems, so it is subject to all the problems associated with lack of information and lack of incentives that have plagued the socialist nations. For instance, in the case of global warming, emissions from carbon dioxide from efficient burning of all fuels case no harm where they are emitted. No one's rights are being violated by the invasion of harmful pollutant, yet these emissions are building up in the atmosphere. Thus this may require that in the future regulations must take this into account. Some scientists and environmental groups argue that the threat of global warming is serious and that despite high costs, the nations of the world must impose strong regulations quickly. Many countries have initiated air pollution control programmes in recent years. In England control was started...
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