Anderson and Leal argue that free markets have been making the environment cleaner for centuries and that private innovations, such as the energy consumption of cars, are more effective than government intervention.

The central argument is that property rights, which are resolved through a direct transfer of payments between parties, are more effective as a form of environmental protection than government intervention through taxes.

Glenn Fox of the American Journal of Agricultural Economics lauded the book for its readability and described its reference list as "one of the most comprehensive offerings currently available in this area.

"[2] John A. Douglass of Forest & Conservation History praised the book for presenting the possibility of replacing zero-sum contests between industry and conservationists with markets that would allow for mutually acceptable arrangements.

[3] David Pearce of The Economic Journal criticized the book for, in his view, not presenting a persuasive argument for tradeable permits, inasmuch as only one significant example of their application to water quality, and that a not very successful one, was cited.