By Thomas H. Tietenberg
ISBN-10: 0131392573
ISBN-13: 9780131392571
Environmental and ordinary source Economics takes a policy-oriented strategy, introducing monetary conception within the context of debates and empirical paintings from the sphere. Readers will achieve a world point of view of either environmental and normal source economics.
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Sample text
Too much pollution is produced. 5 The Market for Steel Price (dollars per unit) MCs MCp P* Pm D 0 Q* Qm Quantity (units) 3. The prices of products responsible for pollution are too low. 4. As long as the costs are external, no incentives to search for ways to yield less pollution per unit of output are introduced by the market. 5. Recycling and reuse of the polluting substances are discouraged because release into the environment is so inefficiently cheap.
D. 400 the population growth began to bump into environmental constraints, specifically the agricultural carrying capacity of the land. The growing population depended heavily on a single, locally grown crop—maize—for food. By early in the sixth century, however, the carrying capacity of the most productive local lands was exceeded, and farmers began to depend upon more fragile parts of the ecosystem. The economic result was diminishing returns to agricultural labor and the production of food failed to keep pace with the increasing population.
Because future generations cannot speak for themselves, the current generation must speak for them. Current policies must incorporate our obligation to future generations, however difficult or imperfect that incorporation might prove to be. International cooperation is by no means a foregone conclusion. Global environmental problems can result in very different effects on countries that will sit around the negotiating table. While low-lying countries could be completely submerged by the sea level rise predicted by some climate change models, arid nations could see their marginal agricultural lands succumb to desertification.