Do these approaches to regulatory policy raise ethical issues?

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By now you have read a great deal about the economic approach to environmental policy and its purported superiority to traditional command-and-control regulatory policy. This week, please write a short essay in which you demonstrate the utility of the traditional regulatory model. Your response must compare command-and-control regulatory policy with economic models of choice. In what areas do each of these approaches work well and falter? Do these approaches to regulatory policy raise ethical issues? How do each of the approaches treat the major stakeholders, specifically the environmental advocacy community and corporate interests? As always, this question does not have a right or wrong answer. Rather, your response should provide a thorough examination of both sides and their strengths and weaknesses. I expect a lively discussion on this question. Please respond in 500 to 600 words.

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