ABSTRACT
Michael Porter and Claas van der Linde have written a paper that is interesting and, to us at least, somewhat astonishing. It is a defense of environmental regulation-indeed, an invitation to more stringent reg ulation-that makes essentially no reference to the social benefits of such regula tion. This approach contrasts starkly with the methods that economists and other policy analysts have traditionally used when assessing environmental or other reg ulatory programs.
