The first generation of environmental laws
regulated risks primarily with commands and penalties – the “stick”
approach. Since then, new laws often
have employed economic incentives, including trading systems, to accomplish
protections with less cost. By contrast,
the Biden Administration has focused significantly on subsidies – the “carrot”
approach, which has political benefits. The landmark Inflation Reduction Act, enacted in August 2022, deploys
carrots more vigorously, and expensively, than ever before. This session will focus on how modern incentives
might serve the cause of environmental protection.
Business meeting at program conclusion.