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The Way We Green - The Power of Prices & The Failure of Markets

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Uploaded on May 21, 2010

On a particularly sunny (and busy... listen to the construction in the background) day we met up with David outside City hall and asked him for a summary of his paper, The Power of Prices & The Failure of Markets: Addressing Edmonton's Environmental & Fiscal Challenges.

David explained how Edmonton is addressing many environmental issues, but is failing to rein in sprawl and its significant health, environmental and economic costs. Like other environmental problems, sprawl results from rational economic decisions. Attempts to rein in sprawl will continue to fail as long as market prices encourage it. Fortunately, prices can be adjusted to provide an incentive to denser urban development. Environmental pricing reform policies, some of which are briefly outlined in this paper, can be employed by Edmonton to recruit the power of the market to rein in sprawl and address other environmental issues.

About David Thompson
David Thompson is Principal of PolicyLink Research and Consulting. He has worked in the private, public, and civil society sectors, and has postgraduate degrees in environmental economics and law. He lives in Edmonton, and is a committed citizen, volunteer and family man, as well as a homeowner, taxpayer, and small business owner.

Read David's paper on The Power of Prices & The Failure of Markets: Addressing Edmonton's Environmental & Fiscal Challenges at http://www.thewaywegreen.ca and share your thoughts.

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