Sunday, April 11, 2010
Long Run Well Being
When we try to describe the economy we usually forget about sustainability. Sustainability brings in a conflict of interests. Limiting carbon emissions does not maximize growth, so individual countries governments have to decide on how many emissions to allow. This leads to several problems because as described in this article there are accusations of false emission reports and also the issue of finding the efficient level of emission arises.
Subscribe to:
Post Comments (Atom)
Its obviously not as simple as this, but I view issues related to sustainability to make simple economic sense. If we are looking at the long run, in some cases the not so long run, a continuation of current practices will lead to complete production meltdown, an obviously calamitous economic outcome.
ReplyDelete