The Antiplanner will be in Coeur d’Alene, Idaho today speaking at a conference that seeks to find a balance between property rights and clean water. Golf courses, waterfront homes, and other developments along Lake Coeur d’Alene spill nitrogen, phosphorous, and other nutrients into the lake, leading to algal blooms that can cause serious problems.
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To prevent this, some propose that the county regulate or limit new development. But the Antiplanner argues that any regulations should apply equally to existing developments. Instead of regulation, I propose a system of tradable pollution rights, in which every waterfront property owner starts out with a right to a tiny amount of pollution. Those who don’t pollute could sell to those who do, and those who pollute in excess of their rights would be severely fined.
