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- W2269792344 abstract "This paper revises the classical theory of social cost to include the productive value of the environment. The first section of the paper reviews the classical theory of social costs. The second section introduces the assimilative capacity of the environment as a measurable externality. In this section the assimilative capacity of the environment is measured as either consumer or producer surplus conferred on the individual or society conducting the polluting economic activity. The paper concludes by suggesting that society should increase its productive activity only up to the point where the revised marginal social costs equal the net marginal benefits of the activity." @default.
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- W2269792344 date "1978-01-01" @default.
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- W2269792344 title "Global and Regional Implications of the Social Costs of Environmental Pollution" @default.
- W2269792344 doi "https://doi.org/10.22004/ag.econ.128309" @default.
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