In almost every instance, air and water quality goals were met more cheaply and quickly when we taxed pollution than when we tried to regulate it directly.
Bob FrankPrescriptive regulations, such as telling electric utilities what kinds of coal to burn or what kinds of scrubbers to install on their smokestacks, were not only intrusive, they were also grossly inefficient.
Bob FrankThere's no indication that middle-income families feel resentful about the bigger mansions and yachts. But the near-rich, whose social circles intersect those of the rich, are subtly influenced by them.
Bob FrankOnce firms had to pay to pollute, they became incredibly inventive at figuring out cheaper ways to eliminate their SO2 emissions.
Bob Frank