The Plastic Problem: A Free Market Solution

14 Pages Posted: 23 Jun 2014

See all articles by D McCabe

D McCabe

Loyola University New Orleans

Walter E. Block

Loyola University New Orleans - Joseph A. Butt, S.J. College of Business

Date Written: June 21, 2014

Abstract

Plastic bottles have been considered environmental anathema on many college campuses, and elsewhere in our society. Plastic is seen by environmental critics of the market as particularly harmful, and must therefore be all but banned from polite society. The free enterprise system has been thought to have failed to price this substance out of use. However, the contention of the present paper is that this is not a case of market failure. Rather, on the assumption that plastic is indeed harmful, prices do not reflect this fact due to the nationalization (municipalization) of garbage dumps. If they were privatized, then disposal prices would tend to reflect the harm done by plastic.

Keywords: Environmentalism, Free Markets, Plastics

JEL Classification: Q2

Suggested Citation

McCabe, D and Block, Walter E., The Plastic Problem: A Free Market Solution (June 21, 2014). Journal of Accounting, Ethics and Public Policy, Vol. 15, No. 2, 2014. Available at SSRN: https://ssrn.com/abstract=2457484

D McCabe

Loyola University New Orleans ( email )

526 Pine Street
New Orleans, LA 70118
United States

Walter E. Block (Contact Author)

Loyola University New Orleans - Joseph A. Butt, S.J. College of Business ( email )

6363 St. Charles Avenue
Box 15, Miller 321
New Orleans, LA 70118
United States
(504) 864-7944 (Phone)
(504) 864-7970 (Fax)

Register to save articles to
your library

Register

Paper statistics

Downloads
183
Abstract Views
729
rank
163,860
PlumX Metrics