Maximization of Economic Output Debate
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Added on 2020-03-16
Maximization of Economic Output Debate
Added on 2020-03-16
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Leonard Brooks and Michael Grubb Debate 1Student NameInstitution AffiliationCourseTutor(professor)Date
Leonard Brooks and Michael Grubb Debate 2Central Issue in The CommunicationThis debate focuses to expose the analysis on how everyone should agree to accept onmaximization of the economic output as a goal and also minimization of environmental damage.This would also include maximization of the output subject to there being improvements at agiven rate in defined environment parameters.The debate also focuses on the importance of microeconomics, macroeconomics towardsshowing energy price-elasticity, greenhouse warming, energy efficiency and economicproductivity. Particularly energy efficiency ‘solutions’ to the green house problem.Grubb offers no hard evidence or analysis to justify his dismissal of macroeconomicsevidence or macroeconomic analysis as invalid in the context is also a central point to thisdebate.The Main Similarities in The Arguments Between Grubb and Brooks EconomistBoth economist argue that all the economic incentives are towards maximizing marginalproductivity of labor and capital as factors of production which are equivalent to the totaleconomic output.Both economist agrees that if consumers are to make right decisions when faced with theenergy constraints then it is very important for them to be informed in advances becauseinadequate knowledge to them acts as a source of energy inefficiency. The Difference in The Argument Between Both EconomistsBrooks urges that their exist a good correlation between personal disposable income andresidential energy expenditure in a way the domestic consumers show ingenuity in finding new
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