
How to Reduce Trade's Environmental Impact
Some firms engage voluntarily and comprehensively for environmental preservation. But let us be honest: Most do not and these firms need a “more pronounced invitation” to act – to be candid. Therefore, I am in favor of regulation as long as it carefully considers potential side effects and is designed prudently and appropriately. The internalization of costs for pollution which are currently externalized is one step. However, in international transportation, it might not lead