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Permit trading among point sources of water pollution

3. As an alternative to standards, one policy proposal is the use of permit trading among point sources of water pollution. Give the major reason why this is advantageous (a) from an economic perspective and (b) from an environmental perspective.

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Permit trading among point sources of water pollution is an alternative to standards:

STEP 1
This is advantageous from an economic perspective because:
1. The permits would be global in nature and can be traded globally or among neighboring countries;
2. Any firm that releases effluents into water will be required to own permits equivalent to the quantity of effluents released. For instance a company releasing 20 tons of effluents would have to own 20 permits.
3. There would be a limitation on the ...

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