I attended a lecture given by Professor Jesuthason ‘Dodo’ Thampapillai (who is a professor at the LKY School of Policy at NUS) yesterday. He's an environmental economist and he commented that since governments are so willing to bail out the financial markets, why can't they do the same with the environment.....
Bail out figures so far (I hope these figures are correct, but basically, they are B-I-G figures):
a) UK - £50 billion
b) USA - $700billion (£448billion)
With the melt down, the markets are supposed the be restructuring. While they are at it, will someone tell the economists to price the environment into the costs of everything on the market? This way I don't think we would need environmental taxes etc etc.