However, there are times when consequences of unrestricted industry are damaging to all partied concerned, such as acid rain. Since it is generally more profitable to be a major polluter, as opposed to investing a lot of money into being eco-friendly, to what extent would objectivists be able to tolerate environmental legislation?
I don’t see why there’d be any environmental legislation; in fact, there would be none. So long as the pollution didn’t significantly affect (i.e. as long as the pollution’s affect wasn’t a reasonably measurable health concern) the rights of other individuals, it wouldn’t be a problem.
Example, at the moment, even though nuclear energy is cleaner, environment-polluting-coal is cheaper. Rather then sit around and wait for tech advancements to come around to solve the problem (my understanding is that the recent “clean coal” trend is a euphamism) wouldn’t it make more sense simply to to place higher tax on coal plants and less tax (or none at all) on nuclear plants?
It takes energy to manufacture everything. If we were to only use nuclear energy, it would cost manufactures, as well as those who extract the minerals necessary for production, more money to produce/extract. Therefore, the cost of all commodities would necessarliy rise. This would irrevocably hinder the economy and the life styles of millions of people—so much so that none of the environmentalists would have enough time to protest, since they’d be too busy earning a living.
It makes more sense to me to allow for cheaper production of products at the cost of the “environment,” with a highly probable chance that new energy-efficient technological advances will occur, then it does to implement a new source of energy at the expense of the economy and everything else that follows.
what incentives would they suggest do exist to lessen unecessary environmental damage?
Their own self interest. It would be foolish for a logging company to simply ransack a rainforest (i.e. jungle–if we are to speak non-euphemistically) w/o some sort of “rainforest compensation.” How could the logging company expect to earn $ in the future if it has destroyed its potential earnings? In other words, after cutting down an X amount of trees, it would be in the company’s interest to plant seeds, or do whatever is necessary, in order for newly cut area to flourish.
Same with air pollution (or any other enviro problem). If the air pollution is bad enough to where it is threatening our breathing air, it would be in the producers interest to fix the problem–since its consumers (as well as the consumers) need to breathe in order to consume
.
Also, if we know Company X is unnecessarily polluting the environment, how likely are we to buy their products? Nothing like the beauty of the boycott.