Possiblities of the rule

Sorry, I went back to air because it was the first article that I found that discussed what we have been talking about. This article is about the trading of air pollution rights and the people who set up the system. The most interesting thing about it is that the "stakeholders" producing the pollution are the ones setting the "emmissions credits and the rules." That shows Coase's influence as is stated in the article. I believe that this program is extreamly interesting. Those people are working together to fix their problems and to also find ways that would benefit them. It was also pointed out that becuase the stakeholders are the ones creating the caps and rules, they are subject to many outside sources of influence, least of all which would be political. That adds a shakiness that would not be there in other systems. The ability of the stakeholders to change the caps could be compared to the ability of cities to re-zone areas with all of the trials contained therein. The article pointed out that they went from a "command-and-control" regiem to this new policy of trading. This example shows exactly what was discussed in class before about both the trading and also the rules and the regulation of those rules. The article refered to the stability of the "property right." It stated that as the definition of that right becomes more solid, the whole system will become more stable. That is an interesting idea, that because of the general system, there is the danger of collapse, yet because of that same system there is the possibility of strength, growth, security, and continual improvement and adaptability. These stakeholders have the opportunity to find their own ways of creating the best situations. They have the opportunity to build their own system of enforcements. While I do not see them forming the same kind of gang situation that is in effect with some fishery systems, it is possible for them to form something that would encourage the creation of what they are striving for. I believe that this "experiment" is worth keeping up with. It will be interesting what they are able to accomplish and where or if they falter.