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Public Policies for Environmental Externalities PDF

   

Added on  2020-05-11

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PUBLIC POLICIES ON ENVIRONMENTAL EXTERNALITIESName of Student:Name of University:Author Name:

INTRODUCTION: Modern world is combined projection of enormous social, political and economicactivities. The manifestation of these activities’ impact on environment is evident in variousaspects and one of the important has been climatic changes. Environmental deteriorationstemming from human actions has become common ailment every country of the world faces.The World bank report on climate change and development predicts the world temperature torise by 5 degree Celsius in coming 100 years in contrast to the pre-industrial phase (Desmet andRossi-Hansberg 2015). The report presents a discussion on the simultaneous impact environment and economicactivities exert on each other. Various economic activities like industrial production emits greenhouse gases that adds to the worsening of global warming. The global warming in returncontracts the limit of economic expansion based on the policies taken publicly to keep the earthtemperature in control. The report also highlights some public policies to regulate theexternalities on environment and how efficient they are.ECONOMIC IMPACT OF GLOBAL WARMING:The impact of global warming is huge in terms of economic and further social terms.Increase in temperature enhances the sea level and various climatic changes that impact theagriculture greatly, Agriculture is the source to feed people and the biggest impact of globalwarming falls on it in terms of changed rain consistency, extreme weather condition includingmore heat and severe snowfall.

The source of global warming is emission of greenhouses gases like carbon dioxide,methane emitted from industrial production of the developed as well as developing nations. Moreproduction implies more emission of these would create pressure on the industries to eitherreduce the production level or employ more energy efficient technologies. International trade oftoday’s world are subject to share and exchange of range of goods and services that exploits thenatural resources abundantly and cause environmental degradation. From consumer goodsproduced agriculturally and industrially to many services have caused impacts on nature. Thustrade has important contribution in the emission of green house gases leading to worldwideincrease in temperature (Strand 2013). But on the other hand trade can be source of facilities interms of newer and improved technologies adopted. The research and development beingconducted worldwide in order to not only reduce the harmful gas emissions but also come upwith production an management technique that leads to optimum use of resources saving upenergy. Moreover, ecological sustainability is also important factor to be taken cared byswitching to energy efficient mode of production than energy extensive production in varioussectors.One of the crucial impact that global warming has on human race is problem ofmigration. The sea level rise cause difficulties for the economic activities based on shoreline.The increasing acidic water body, extreme weather condition and consequent effects on lifestyleinduce people to move from one place to another (Wheeler and Von Braun 2013). This leads tohuge crisis as new habitats should be made and the population distribution becomes biasedleading to increasing population pressure on land. Excessive land pressure does affect theenvironment.

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