Tham khảo tài liệu 'quantitative economics how sustainable are our economies by peter bartelmus_11', kinh doanh - tiếp thị phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | Pushing the Limits Eco-Effieieney 241 Market Creation vs. Public Goods Management Establishing property rights for public environmental goods is the prerequisite for creating a market for these goods see Annex I Section . The purpose is to generate better maintenance of nature s assets as well as more efficient supply and use of their services through market negotiation and pricing. However as also indicated in the Annex Coase-type negotiations rarely work in practice. The typical features of non-exclusion and non-rivalry of an environmental public good together with short-sighted overexploitation by economic agents the tragedy of the commons Section would make it necessary to maintain governmental ownership. In this case cost-benefit analysis is the only tool to introduce some rationality in determining the social value and cost of providing the public good. However controversial valuation techniques and limited validity from an overall Pareto optimality point of view impair the efficient governmental supply of public goods and services Section and Annex I . An effective way of managing environmental assets is maintaining public ownership but leasing out the use of the assets to private corporations. In this case the capture of resource rent through royalty payments basically a taxation of profit from resource extraction and sale can bejustified from a long-term capital maintenance point of view. The absence of individual property rights indicates governmental responsibility for reinvesting the royalties for the maintenance of the common wealth . Of course reinvestment into any type of capital caters to the weak sustainability concept only Section . While applying prima facie to scarce natural resource stocks the case can also be made for the use of absorptive capacities of the environment as argued in the greened national accounts Section . The inability of many natural-resource-rich developing countries to transform .
