Question

One of the main criticisms of green marketing and consumerism is that the retail prices of goods and services fail to reflect the true costs of their manufacturing and marketing efforts. Would a fair price for a product also include a premium for its impact on the environment and human health? Why or Why not? Provide specific examples to support your answers.

Answer 1

It is an extremely good idea to have the retail prices of the products reflect the cost to the environment and human health. The inclusion of such costs would in my view act as an effective deterrent to the uncontrolled consumption of such goods and products which in the long run is detrimental to the environment and human well being. For example, the polyethylene bag used for holding products after shopping is a very harmful bag from the perspective of the environment as it is not bio-degradable and leaves aside a considerable ecological footprint which also harms human in the long run. However, the current cost of making such bags is very low and the price is also a few cents only thus this does not act as a good enough deterrent. However, if the cost to the environment is also included in the cost and the price is increased to that extent, then the polyethylene bag would be used much more carefully and with a lot of discretion which would ensure less pressure on the environment and lower long term damage towards the quality of life for humans as well.