While increased economic activity in Florida can provide many benefits for the State, it can also impose costs on Florida's citizens in the form of environmental damage. Sound public policy in Florida must weigh carefully all of the relevant benefits and costs of economic activity in the State. In addition to identifying and helping to measure relevant benefits and costs of economic activity, economic analysis can determine the least costly means of achieving the level of environmental preservation that is deemed best for Florida. Important work remains to compare the merits of market-based approaches to environmental regulation (such as the one created by the 1990 Amendments to the Clean Air Act) with more traditional approaches. The interaction between environmental regulation and more traditional regulation of earnings and prices also warrants careful analysis.