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The Revision of Economic Development
Economic development often comes at a high cost to the environment. For example: deforestation in an area to gain agricultural and grazing lands maybe economically beneficial for the profits of the farmer, but it also inhibits our supply of oxygen, causes damage to plant and animal life, damages nearby rivers and streams and many other negative externalities to the environment. One of the principle theories of economics is that in order to maximise productivity and profitability we should use resources wisely in order to gain the maximum advantage from them. In order to become truly efficient we also need to take in to account the environment, our need to preserve the resources it offers, and lessen the damaging impact we are having upon it through economic growth and development. Currently the needs of the environment are not always considered, and do not factor in to many of the profit based decisions and actions taken to achieve and sustain economic development. Consequently, the development of eco-efficiency strives to change the old designs of production to factor in the effects that development has on both the immediate and global environment. Eco efficiency innovations aim to take in to account all externalities caused by economic development and to create sustainable forms of production that limit the damaging effects upon the environment, whilst still being able to maintain profitable production.This environmental preservation can be reached at three different levels: socially, politically, and economically. New methods of production, laws, policies and social awareness in relation to the environment would influence the development in growth and social consciousness of preserving the environment.
In order to be part of a solution, you need to know what the problem is. By making people aware of environmental degradation, society can aid in the effort to preserve the environment, and can influence the production processes of manufacturers by using their purchasing power as a tool to ensure they only select goods which are produced sympathetically within it. By making the masses aware of the environmental state, and the problems that continued degradation stand to cause them and their families in the future, they can begin to understand the importance of their actions. Society as a whole will take more care in the environment, leading normal routines to be challenged by increased recycling and saving energy through simple procedures such as unplugging electronics or washing clothes after 5pm. These tiny adjustments to our daily routine not only save the consumer money, but also help to conserve energy, decreasing its demand and proving less destructive for the environment.
Global Warming is an environmental issue that has had both social and economic recognition. As a nation, we have noticed and reported the affects of atmospheric pollution that come as a result of transportation, burning fossil fuels to create power, and mass deforestation leaving us unable to convert the increased Carbon Dioxide levels back to oxygen. Consequently Earth cannot sustain itself, leading the temperature to rise which causes ice to melt from the northern caps causing both rising waterlevels and warmer water. The effects from this can be felt all over the Earth. Some small countries are in danger of their lands being lost to the sea, while declining fish stocks and marine life can no longer breed and live as before in the warmer water due to their food sources longer being able to survive.Globalization and increased scientific technology has brought with it awareness of our contribution to damaging the Earth. We have an obligation to limit our ecological footprint on Earth, not only for the sake of our future, but also for the sake of our children’s future.
Human consumption of nature’s resources is put into perspective when faced with the possibilities and eventualities of what is happening to our lands while we continue to disregard the environmental consequenses of economic development. With the help of both scientists and politicians, we are becoming increasingly aware of our impact on Earth. For example, Al Gore’s ‘An inconvenient Truth’ not only conveys our destruction to the Earth, but also offers solutions that we can apply. He stressed the importance of: driving less, to reduce emissions; recycling more, to reduce waste and the need for using valuable resources; checking your tires, to reduce fuel consumption and emissions; using less hot water, which ensures less energy is used, less power is demanded, and less natural resources are used to create the power; avoiding products with a lot of packaging, adjust your thermostat, plant a tree, and turn off electronic devices
In cities where the demand for transportation is high, there are tougher decisions to be made in respect of supporting environmental preservation. “Today’s approach is diametrically different-the emphasis is on refiguring settlement into compact and transit-friendly cities, and on the technological redesign of both products and production processes” (Norman Vig 63).
Even though cities demand so much energy, the fact that businesses and homes are closely together actually cuts down use of energy because you do not need your car to drive long distances, instead one could walk to work. It is widely spread businesses and homes that require more energy because buses and cars have to travel to get to work. Walking world is impractical if one had to walk miles to work.
Because here is social recognition on a large scare, then policy makers have to respond. “An issue must first gain societal recognition as a problem, often in response to demographic, technological, or other social changes. Then it must get on the docket of government institutions; usually through he exercises of organized group pressure. Finally, it must receive enough attention by government policymakers to reach the stage of policy action” (Vig 8). For example, the Sierra Club, one of the oldest and well-known environmental organizations, encourages solutions to global warming. The Sierra Club’s mission is to educate and to practice “responsible use of the Earth’s resources.” By being controlling our uses of the Earth’s resources, we contribute to not only helping the environment but also saving money using eco-efficient products.
Sustainability does impact economics in a positive way. Cities and its transportation are implemented to eco-efficient (*Define eco-efficient, I do not know how to). For example, the auto industry has introduced hybrid car. Hybrid cars are electric which have both a gasoline and electric engine. For the consumer, we benefit with a better fuel economy and efficient power. Another example of eco-efficiency, are windmills. Windmills generate electricity by utilizing the energy of the wind. (*I do not know how to explain this further, Help). Wind energy though is a source that does not diminish, so it is renewable (*help, I do not now how to explain this). This source of energy is eco-efficient because it produces energy without creating pollution or contributing to global warming. In my opinion, businesses are not motivated by economics alone, because they have to be conscious of the environment in order to survive with a changing environment so they have to adopt new methods to survive. “Manufactures are orientated to sustainability concerns within their own operations because using less energy and materials usually reduce cost” (Vig 61). Consequently, production and consumption of materials are cheaper with residing with sustainability (*define) and being eco-efficient.
Until now, there is not always a trade-off between economic development and the preservation of the environment. The evolutions of eco-efficient materials such as hybrids, windmills, and even light bulbs have all been created to be sustainable (*define). However, there must be social recognition on a large scale before policy makers put into effect laws the have requirements to guide people in keeping and preserving the environment.