Firms may underinvest in local environmental protection even from the private viewpoint of its owners and employees, but works councils may help mitigate this problem. We show that increases in environmental investments when councils are present could be employee-led, firm-led, or jointly-led....

"Free market environmentalism is an optimistic paradigm for linking dynamic environments with dynamic economies using property rights and markets to provide incentives for good resource stewardship. This book provides a new paradigm for environmentalism, offering examples of how free market...