Limit theorists correct answers thought mainstream economists were a threat of BAU
Externalitites correct answers water, air, and other natural resources are neither owned, nor priced; their health nor functioning fall within the purview of standard treatments
Economists correct answers don't...
ISS 310 Quiz 2 || with 100% Error-free Answers.
Limit theorists correct answers thought mainstream economists were a threat of BAU
Externalitites correct answers water, air, and other natural resources are neither owned, nor
priced; their health nor functioning fall within the purview of standard treatments
Economists correct answers don't include natural resources into their basic accounting.
Market prices correct answers do not include ecological costs; when there isn't accounting for
environmental impacts, it leads to materiality paradox: not include ecological impacts into costs,
companies use more ecologically degrading products like plastic and sell at even cheaper prices
Full-cost pricing correct answers including environmental costs into market costs
Society for Ecological economics correct answers they were interested in what conventional
economics wasn't measuring (a.k.a environmental impacts)
Ecological economics and energy economics correct answers economics underestimate the
benefits and overestimate the cost of ecosystem protections. "Special interests acting against
environmental protection, often from the energy sector, have enlisted economics to water down
regulations and forestall action"
Environmental issues in economics correct answers Harvard and stanford have private sectors for
environmental studies and they only have 1 person each in this department
Sustainable economy correct answers we need to value natural capital; the plentitude approach
argues that we need to rethink the scale of production, how knowledge is accessed, skill
diffusion, the ownership of natural assets, and mechanisms for generating employment
Ecological overshoot correct answers people tended to optimism in regards to the environment
and people think naturally solutions will emerge
Mainstream economists correct answers think that Thomas Malthus' discredited ideas are coming
into play again. Malthus said that food will evenutally run out and disease and famine will
spread, making us fix the problem; when facing limits to growth, he thought we should promote
it
Thomas Malthus (economist) correct answers in regards to climate change, people (other
economists) backed Malthus saying that climate change might end up improving well-being and
there would be benefits to a warmer climate; economists and scientists were on opposite sides of
the fence. economist believe that as a natural resource became more scarce, it would become
more expensive to obtain or produce (higher price will reduce demand
disciplinary Balkanization correct answers ecologists and economists were not close in
coversation. as natural resources become scarce, prices will rise and demand will fall
, Oil prices correct answers lower oil prices in 1980s and falling food prices led many economists
to be skeptical of claims that resources were becoming scarce
Genuine limits correct answers economists believe that genuine limits on resources are rare and
not worth worrying about, "Nature is regarded as an ordinary input into production, and assumed
that we can get along with a lot less of it; this came with the industrial-era view that produces
can easily interchange machinery and human labor
Cornucopians correct answers dubbed name for eco-optimists
they believe there are no physical limits to growth; they predict the future holds unlimited riches
via the wonders of population growth, which results in more smart people and more human
ingenuity
rather than worshiping the miracle of nature, it's the market that is revered
they reject the science of climate change and environmental degradation
Environmanetal Kuznets Curve (measured sulfer dioxides and nitrogen oxides) correct answers
from this, economists came to conclusion that countries must endure a growing concentration of
income as they develop, but that once they become wealthy, they can buy themselves more
fairness
- one assumption was that richer economies shift to less polluting services, another was as
citizens get wealthier, they pressure the government to crack down on polluters and clean up the
air, water, and toxic wastes of industry
- hypothesis was wrong; greenhouse gases do not decrease at any level of income
Eco-optimists (housing bubble) correct answers all these bubbles are examples of irrational
pricing with big consequences
- These effects mean that the market outcomes will be unreliable signposts of ecological health
U.S. government subsides correct answers another reason prices are not accurate reflectors of
ecological realities
- allows oil, gas, nuclear, and coal industries to emit carbon emissions without financial
liabilities and supports massive automobile infrastructure and chemical-intensive farming
Trade off Economics correct answers - environmental kuznets curve story:
its only after decades that people start to clean up with air, water, and soil
-environmental economists:
frequently operate in the realm of trade-offs; a cleaner climate means more expensive energy,
saving species costs tax payer money, and preserving forests eliminates jobs
- trade off view: competition and markets ensure the economy is more or less operating at full
capacity and resources are efficiently deployed; people and firms have already made choices that
optimize their well-being
- environmental protection: thought of less in terms of making the economy more productive
than of leading us to different choices
- production possibility curve:
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