Question

In: Economics

I need to create a short essay response to this prompt: As we become more aware...

I need to create a short essay response to this prompt:

As we become more aware of our impact on the environment, citizens and legislators are faced with decisions which impact local, state, and national economies. For example, government restrictions on construction due to effects on endangered species or wetland areas can affect the employment levels of a community. If you were a citizen or government official facing a decision between environmental protection and local economics, what factors would affect your decision-making process?

In a well-developed essay, discuss the factors which might affect the decision-making process when either the environment or local economics are at stake. Include facts and examples to support your discussion.

Develop a response that includes examples and evidence to support your ideas, and which clearly communicates the required message to your audience. Organize your response in a clear and logical manner as appropriate for the genre of writing. Use well-structured sentences, audience-appropriate language, and correct conventions of standard American English.

Solutions

Expert Solution

Every economic decision is based on the concept of trade off or opportunity cost . Sometimes infrastructural , industrial development comes at the cost of environmental damage . But a damage to a large extent can be a further threat to well being than slow pace of infrastructural development . So when deciding about a new endeavour that factors that should affect the decision making process can be summed up in a single idea called sustainability . We should consider the extent of the damage inflicted . The process of growth cannot be done by ignoring the environment . Also , the world has enough resources to support some level of economic growth . But unsustained developmet can lead to permanent and irreparable damage to the environment in long run , such as exhaustion of non-renewable resources , rise in pollution , destruction of ecosystems etc .

Every decision should consider the opportunity cost , sustainability along with growth , employment generation and economic progression . Economic growth is necessary for poorer nations but they usually cannot afford sustainable modes of production or cleaner modes of production . Such devices for pollution elimination are being subsidized and supported by UN . More pressure is on the developed countries who have maximized usage of resources and must concentrate on conservation .


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