Question

Summarize the three possibilities for setting standards by discussing examples of the relationship between income levels, and environmental problems, and labor problems.

Answer 1

The possibilities for setting standards by discussing the relationship between income level, environmental problem , labor problem are --

(A) TRANSPARENCY --- The transparency is needed in relation with the income , environment and the labor because they are dependent on the information disclosed . The level of income needs this because if the level of income is not disclosed then the nations earning can not be calculated accurately and for the environmental problem and the labor problem if transparency will not be there the nations development will low down as the people working and the investor from out side the country will not get the right information and will not trust for there investments again.

transparency helps all of the three factors to grow well and get the proper benefit of each other .

(B) COMPETITIVENESS CONCERN -- For the setting up of the standard competitiveness concern is one of the main factor. As for there is vast difference between the countries in environmental policies and labor standards as communities become richer, they increase their demands for all normal goods, including higher environmental and labor standards.

In high-standard countries some groups fear a ‘race to the bottom’ as governments compete to attract and keep investments in their territory by lowering standards. In poor countries, on the other hand, people fear being forced to raise standards at an earlier stage of development than they would otherwise choose, thereby reducing their comparative advantage in products whose production is intensive in the use of natural resources or unskilled labor.

(C) SUSTAINABILITY -- Sustainability Standard A standard that addresses the social, environmental or economic practices of a defined entity, or a combination of these.  The sustainability helps in the environment problem to low down and increase the level of environmental efficiency and due to the sustainability the labor problem and the labor force available will get out of the suffering phase and will go on in increasing the employment level and increase the level of working . Due to the increase in the level of working and the investment of the time to the work by the labors it will lead to more generation of the capital in the economy and the increase in the living standards . It will helps the three of the factor to grow together with the standards set .