Environmental economics

Question 2

I do agree with the statement that humans are destined to destroy themselves through polluting the earth and depleting the resources. Humans have been draining the earth resources and depleting the natural resources. Most of the environmental damage that happens in the world does not start with the large companies but through the cumulative actions of people. Some of the activities we engage in, tend to have a significant impact on the environment, and they ultimately harm our well-being. The main problem is with regards to energy use, and as a result, it is necessary to establish policies that will completely curb the use of fossil fuel energy sources such as oil. The burning of the fossil fuel does produce the greenhouse gasses, which lead to global warming. Therefore, so as to save the environment, it is important that such a policy be implemented.

Question 4

Natural capital is considered as the earth natural resources and also the ecological systems that offer vital life support services to societies and the living things. These services are of significant economic value, and some tend to be priceless as they do not have substitutes. The natural capitalism is considered as a new model of business, which enables the firms to realize their opportunities fully. According to Paul Hawken, natural capitalism does recognize critical interdependence between production and the use of human-made capital and maintenance and supply of the natural capital. By recognizing the relationship with the valuable resources on earth, it is only then that business and people will continue to exist. From the definition of the term natural capitalism, it is clear that it does extend the recognition of the human capital and natural capital.

Question 5

The 11th Hour film is an excellent illustration of what we need to do as humankind. From watching the film, I learned that we need to treat the earth the same way that we treat ourselves and our homes by starting cleaning it up. It is clear that our behaviors both collectively and individually are contributing to the damage caused in the environment. By watching the film, I realized that as human beings, we do not have all the time in the world, but the earth does have this time. Therefore, so as to help ourselves and keep the earth clean, we should start the process of cleaning up the environment. We all play a significant role in keeping the Earth safe for all of us so that we can protect ourselves. From the film, some of the ways that we can save the environment are through sustainable homes, conscious consumer choices, diversified transportation, alternate energy sources, and enlightened government agendas.

Question 1

The Limit’s to Growth study is considered as flawed. The predictions in the study have failed to take place because the study did not generate a robust current of the academic resource. From the study, none of the numbers used in the study was a prediction of what would happen. The information that was used to predict the future was only based on what was happening in the previous years. However, the study did not consider certain issues such as technological advances that would work to help improve the processes. The lack of this consideration and the innovative changes greatly contributed to the study being flawed and the predictions not coming true.

Reference

Hawken, P Lovins, A & Lovins, H (2000). Natural Capitalism, US Green Building Council

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