{"id":21,"date":"2019-06-30T02:12:05","date_gmt":"2019-06-30T02:12:05","guid":{"rendered":"https:\/\/themossytypewriter.wpcomstaging.com\/2019\/06\/30\/essay-3\/"},"modified":"2019-06-30T02:12:05","modified_gmt":"2019-06-30T02:12:05","slug":"essay-3","status":"publish","type":"post","link":"https:\/\/themossytypewriter.com\/?p=21","title":{"rendered":"Business & The Environment"},"content":{"rendered":"\n

     An essential query in the study of\neconomics is; to what measure is considered when putting an economic value on\nthe environment.  One conventional\nscholarly interpretation of the ethics of placing a price tag on the\nenvironment would be that the human species should only be allowed to take from\nthe environment for absolute necessity and survival (Tietenberg, 2009, pg.\n19, para. 5). Moreover, it is imperative the United State continues it\u2019s\nefforts in sustainable energy technology and acknowledge the need to compete\nwith foreign countries such as China. Despite the U.S continued investments in\nclean and renewable energy starting in 2004, for five consecutative years has\nshown a rapid decline in efforts to compete with for countries (Ogden, Hernandez & Bovarnick, 2014). This\npaper proposes the use of economics as a method of preserving the environment\nto influence corporations to seek alternatives in emission consumption and\nwaste output.  First, I describe the\nhuman depth of how the environment is valued. The analysis then proceeds to how\nopportunity costs affect the economics of the environment.  The study then moves to examination of the demand curve <\/em>and how analysis of data of\ntotal benefits<\/em> and opportunity cost <\/em>can be useful mechanism\nwithin demand curve <\/em>to identify willingness to pay. <\/em>The last elements\nthat support this insight are the timing of costs and benefits; including the\npresent value and discounted rate. <\/amp-fit-text><\/amp-fit-text><\/amp-fit-text><\/p>\n\n\n\n

\u00a0\u00a0\u00a0\u00a0 The environment<\/em> and economics<\/em> have an essential role to play when it comes to sustaining the value of raw material<\/em> is at an adequate price, in order to ensure assets won’t be depleted. Likewise,<\/amp-fit-text><\/p>\n\n\n\n

     To elaborate, disputes within positive economics<\/em> are usually fixed\nwith an appeal to the facts<\/em> and are a\nprimary resource when making market comparisons between trade relations &\nenvironmental assets. Whereas, normative economics remains a fundamental tool\nfor resolving whether a specific action would be ‘desirable to the general\npublic and corporations; often being a tool to make judgment calls on\n“open-ended” dilemmas that challenge ethical and morality (Tietenberg, 2009, pg.\n18, para. 1-3).  A plausible\ninterpretation of the above is that two methods for making economic\ninterpretations of the environment involve positive and normative economics,\neach serving two different purposes to resolve financial questions in\ndeterminations of value.  With the use of\npositive economics to create a solid basis of evidence to support normative\neconomics will provide a reasonable basis for market prediction and a more\ndefined economic analysis.  <\/amp-fit-text><\/amp-fit-text><\/amp-fit-text><\/p>\n\n\n\n

 Within the normative\neconomics<\/em> decision making cost-benefit analysis gives one the tools to\nframe the overall concept of what the main desirability<\/em>\nlevel would be determined by the evaluation of the net gains and losses (Tietenberg, 2009, pg.\n18, para. 5). Likewise, desirability<\/em>\ncan be determined when the benefits gained are more than the costs, and\nconsequently, if the prices were more than the benefits that this would be\nundesirable (Tietenberg, 2009,\npg.\n18, para. 5). Also, the mechanism used to measure economics is called anthropocentric<\/em>, which centers around\nhumans (Tietenberg, 2009, pg.\n18, para. 8). <\/amp-fit-text><\/amp-fit-text><\/amp-fit-text><\/p>\n\n\n\n

     Equally important, a demand curve<\/em> is the calculation of the quantity concerning\ncommodities and the exact price the general public is inclined to purchase the products,\nor often referred to as desirability<\/em>.\nIn the same way, each purchased commodities is a reflection of an individuals\nwillingness to pay. For instance, one can find the demand curve by determining\nthe locus of points plotted on a graph from plotting points for prices of\nproduct expenditures and estimates that the individual would be willing to pay\n(Tietenberg, 2009, pg.\n20, para. 1). Subsequently, The prior evidence suggests the willingness to pay\nreflects the desirability of prime market value.  When trying to define the desirable market\nvalue for a commodity, the use of evaluating the demand curve will assist in\ndetermining what consumers are willing to pay per unit for an object or\nservice. The same concept of assessing a demand curve can be applied to\nenvironmental economics to asses the total benefits .<\/amp-fit-text><\/amp-fit-text><\/amp-fit-text><\/p>\n\n\n\n

     Comparitivley when developing a demand\ncurve the accumulative net costs for must be taken into account by tracking and\nmeasuring costs, these costs to maintain production are labeled as opportunity costs<\/em>. Just as net benefits must\nbe tracked to determine demand curve, keeping record of all financial losses\nare equally important in defining willingness\nto pay<\/em> (Tietenberg,\n2009, pg.\n21, para. 2). In certain circumstances the present\nvalue<\/em> is needed to understand the value\nof time<\/em> in connection with monetary gain (Tietenberg, 2009, pg.\n24, para. 2). Usually when an immediate need of resolutions. To accomplish factoring\nthe individual will need to obtain data that can be used for comparison of  net benefits that have occurred at two\ndifferent periods of time. <\/amp-fit-text><\/amp-fit-text><\/amp-fit-text><\/p>\n\n\n\n

     In sum the systems of positive and\nnormative analysis serve two distict purposes yet can be used with one another\nto provide a dynamic economic basis. Furthermore demand curves in normative\neconomics can provide a deeper understanding to opportunity costs,  and present value. Economics must be analyzed\nin every type of market, and this doesn\u2019t \nexclude the evironments raw assets and with out placing a monetary value\non an entity you have to ability to devalue the object or service in question. <\/amp-fit-text><\/amp-fit-text><\/amp-fit-text><\/p>\n\n\n\n

References<\/p>\n\n\n\n

Tietenberg, T. H. (2009).Environmental economics and policy (6th ed.). New York, NY: Prentice Hall.Retrieved from https:\/\/www.vitalsource.com\/<\/p>\n\n\n\n

Ogden, Hernandez & Bovarnick (2014). Galvanizingclean energy investment in the United States (Links to an external site.)<\/a>. Center for American Progress<\/em>. Retrieved from http:\/\/americanprogress.org\/issues\/green\/report\/2014\/04\/03\/87092\/galvanizing-clean-energy-investment-in-the-united-states\/<\/p>\n\n

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    \n\t\t\t <\/ul>\n <\/div> \n","protected":false},"excerpt":{"rendered":"

         An essential query in the study of economics is; to what measure is considered when putting an economic value on the environment.  One conventional scholarly interpretation of the ethics of placing a price tag on the environment would be that the human species should only be allowed to take from the environment for absolute […]<\/p>\n","protected":false},"author":2,"featured_media":452,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[2227,2228],"tags":[73,74,75,66,76,67,68],"class_list":["post-21","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-scholarly-journal","tag-business","tag-demand-curve","tag-economics","tag-environmental","tag-environmental-economics","tag-environmental-science","tag-environmental-studies"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/themossytypewriter.com\/wp-content\/uploads\/2020\/06\/pexels-photo-2827609.jpeg","_links":{"self":[{"href":"https:\/\/themossytypewriter.com\/index.php?rest_route=\/wp\/v2\/posts\/21","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/themossytypewriter.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/themossytypewriter.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/themossytypewriter.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/themossytypewriter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21"}],"version-history":[{"count":0,"href":"https:\/\/themossytypewriter.com\/index.php?rest_route=\/wp\/v2\/posts\/21\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/themossytypewriter.com\/index.php?rest_route=\/wp\/v2\/media\/452"}],"wp:attachment":[{"href":"https:\/\/themossytypewriter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/themossytypewriter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/themossytypewriter.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}