Managing Nutrients With Property Rights

Topics:
Regulations
Tags:
Contamination,
Information Problem,
Nutrient Management Act,
University Of Guelph
Source:
University of Guelph

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Overview: Nutrient use in agriculture has increased land productivity. It has also been blamed for environmental degradation. Nutrient management strives to maximize agricultural output, with minimal environmental externalities. The Nutrient Management Act (NMA) is a central planning solution implemented to prevent water contamination by restricting nutrient use and imposing requirements for their use. This paper examines the Nutrient Management Act's role in preventing contamination with respect to a market approach. An inherent information problem is a shortcoming of the central alternative. Furthermore, a libertarian theory of property rights suggests that central planning is unnecessary and illegitimate in managing nutrients in farm practices.

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Format: PDF | Size: 265KB | Date: Oct 2006 | Pages: 12

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