The case against free market environmentalism

Abstract
Free market environmentalists believe that the extension of private property rights and market transactions is sufficient to address environmental difficulties. But there is no invisible hand operating in markets that ensures that environmentally sound practices will be employed just because property rights are in private hands. Also, liability laws and the court systems cannot be relied upon to force polluters to internalize the social costs of pollution. Third, market prices do not provide an objective measure of environmental matters. Finally, there is a right to a livable environment that justifies regulations protecting the public from unreasonable environmental risks.
Keywords Anderson and Leal  free market environmentalism  libertarianism  property rights  environmental rights  the state and the environment  the tragedy of the commons
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