The economics of marine pollution control

This paper argues that economics can provide an insight into the causes of marine pollution, as well as offering a framework for designing regulatory instruments by which pollution can be reduced. Disenchantment with ‘command and control’ approaches is contrasted with growing interest in economic approaches to pollution control, and the paper then goes on to examine the pro-active stance to environmental affairs now being taken by certain firms. While this more responsible attitude by business is to be welcomed, the paper concludes with the assertion that corporate environmentalism can never be a perfect substitute for government intervention in the management of the marine environment.