Review of 'Environmental Regulation and U.S. Economic Growth'

The authors have constructed a comprehensive model of the economy that takes into account the determinants of long-term growth and the interaction between industries. The study finds that pollution abatement has emerged as a major claimant on the resources of the U.S. economy, with the cost of emission controls exceeding 10% of the total cost of government purchases of goods and services. However, it is important to note that the study only focuses on the costs of pollution controls and does not consider the benefits resulting from a cleaner environment. Therefore, it would be interesting to see how these benefits offset the costs of pollution controls. Additionally, the study only considers the costs from the perspective of the U.S. economy and does not take into account the potential global benefits of reducing pollution. Overall, the article provides valuable insights into the costs of pollution controls but further research is needed to fully understand the economic impact of environmental regulations.