Scientists are convinced that the burning of fossil fuels is contributing to global climate change, which...

Scientists are convinced that the burning of fossil fuels is contributing to global climate change, which will harm future economic growth.

3. What factors would a political economy perspective emphasize in explaining the choice of whether or not to devote resources to renewable energy?

Expert Solution

In this era of global warming,the effects of the burning of fossil fuels mainly effects economy which indeed effect the people.The quantum of resources available to devote to renewable energy sources are minimal.

Factors which we should consider before devoting resources:-

1)Institutional barriers:-Already huge investments are already made into exiting energy plants which run through fossil fuels like thermal plants.

2)Infrastructure and policy regulations related to energy systems.

3)Social :-Acceptance of Renewable energy technologies by people and barriers releated to their personal and societal values.

4)Political :- Proper coordination is necessary from bottom to top governmental organisations.

5)Inter governmental relationship is very important to devote resources because reduction in global warming is a coordinated effect and cannot be dealt single handedly.

5)Technological:-Availability of technology and funds such that more resources can be spend in research and technology.

Rahul Sunny answered 4 months ago

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