Tackling Rice Stubble Burning in India: A Policy Proposal Inspired by the US Cap-and-Trade System
Introducing “The Problem of Social Cost” The issue of rice stubble burning can be framed in the context of Ronald Coase’s essay “The Problem of Social Cost.” Coase argued that when property rights are clearly defined, and transaction costs are low, parties can negotiate to resolve externalities. In this case, farmers burn stubble to save…