rights might contribute to collective progress towards environmental protection. "[7] Class action, however, is every bit as capable of direct tort-based restitution as individual legal action.
Not all aspects of the public domain are easily "Privatisable" in practice. It may be impossible to establish property rights on things like air and water that circulate the globe, so stopping air pollution or global warming on an individual basis would be very difficult. Coasian environmentalists often support carbon trading schemes advocated by other environmentalist movements. The US Clean Air Act of 1990, for instance, set up a system of emissions trading for sulfur dioxide. The Kyoto protocol also seeks to establish a system of emissions trading for carbon dioxide and other greenhouse gases. Rothbardians reject government-imposed emissions trading schemata, and instead maintain that pollution is by definition a matter of Lockean property rights being violated, and hence should be handled as a subject of individual or class action tort, as any other invasion of property. As long as there is an aggressor and a victim, there is a tort.
Some believe that the conservation of endangered species is not necessarily achievable using the free market, especially where there is little economic value in the species in question. For example: there might be only limited profit to be made from a piece of land by maintaining it as the habitat of a rare beetle, whereas alternative economic uses for that land (Which might be deleterious to the welfare of the beetle) - such as building a parking lot on it - might yield a greater profit. Regardless of the broader ecological importance of the beetle, it is much more likely that the landowner will prioritize short-term profits to be gained from development, rather than a long-term benefit which may be of comparably little (perhaps even imperceptible on the surface) benefit to himself. Thus, threatened or endangered species could be lost by relying on the willingness of individual landowners to take a loss in order to protect them.
A related philosophical objection is that free-market environmentalism is entirely anthropocentric and ignores the "innate" value of nature outside of human perception. (See ecocentrism). But even in the world of politics, someone must see and place a value on the environment or specie in question in order for it to be protected.
The principle of limited liability protects investors from the costs of the activities from which they benefit. In the U.S., there have been recent suggestions that, while limited liability towards creditors is socially beneficial in facilitating investment, the privilege ought not to extend to liability in tort for environmental disasters or personal injury. [8] [9] In fact, most free-market environmentalists oppose limited liability in torts as a form of corporate welfare and a limitation of full property rights.
