Free-market environmentalism

The idea that a market-based approach can work better than government regulation to protect the environment owes much of its strength to the pioneering work of economist Milton Friedman.

So says Richard Stroup, visiting professor of economics at N.C. State and one of the founders of free-market environmentalism. Stroup discussed market-based environmental policies during today’s special Shaftesbury Society luncheon honoring the late Milton Friedman’s 96th birthday.

• In this video clip, Stroup explains how cost-effective policies can have a positive impact on the environment.

7 p.m. update: Watch the entire presentation here.