Based on this chapter please make an outline for an essay!

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Sample outline :

Market and Good Environment—A Realistic Solution to Climate Problems

I.Introduction

A.This essay will discuss the pros and cons of the market mechanism being used to address climate problem as well as the economics theory behind it. In response to Naomi Klein’s scorching critique of market mechanism (Capitalism), this essay will also stress in comparing her idealistic solution to climate problem with the market-based solution illustrated in this essay and convince the readers that market mechanism is a more realistic solution.

B.Topic sentence: The market mechanism is not a futile solution to climate problem as Naomi Klein has stated in This Changes Everything, but a realistic solution based on solid economic theory.

II.Body

A.Economic Theory and Principle of Solving a Social Problem

1.The self-interest model of humanity

2.Market efficiency

3.Coase Theorem

4.Implementation of emission trading market

B.Case Study: The Acid Rain Program (a successful emission trading market)

1.Background of the Acid Rain Program

2.Success of the Acid Rain Program

C.Comparison between Naomi Klein’s solution and market-based solution

1.Flaws in Naomi Klein’s argument

a) Logical Fallacies

b) Not incentive-compatible (Free-rider problem)

2.Necessity of market economy in real world (exp. China Economics Reform)

D.Evaluation of the disadvantages of market-based solution

1.Another case study: EU-ETS

2.Potential technical problem of emission trading scheme

III.Conclusion

A.Even though market mechanism has several disadvantages that make it imperfect and sometimes disappointing, it is still a realistic and viable solution to environmental problems. On the other hand, Naomi Klein’s solution actually is over-idealistic since it violates the economic theory and is not incentive-compatible.

B.In the future, people should focus on innovating market-based solution to environmental problems as well as developing a suitable environment for market trading through regulation, negotiation, and legislation.

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