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Environment and development encompasses different disciplines in the natural and social sciences. There are some misunderstandings about how economists think about environment. By examining them here, we hope to explain how economists really do think about the natural environment. Economists believe that the market solves all problems subject to very restrictive conditions and they usually not all satisfied satisfied simultaneously in the real world. Environmental economists are interested in pollution and other externalities. With a negative externality in pollution and externalities, such as environmental pollution, the total social cost of production may exceed the value to consumers. If the market is to itself, too many pollution-generating products are made . Similarly, natural-resource economists are interested in common property, or open access resource, where anyone can extract or harvest the resource feely and no one recognizes the full cost of the using the resource. Extractors consider only their own direct and immediate costs, not the costs to others of increased scarcity. The result is that the resource is depleted too quickly. So the market by itself demonstrably does not solve all problems. Indeed in the environment domain, perfectly functioning markets are the exception rather than the rule. Governments can try to correct these market failures or, for example, by restricting pollutant emissions pollutant emission or limiting access to open access resources, which can improve sustainable development via greater efficiency. Economists always recommend a market solution to a market problem. They tend to search for instruments of public that can fix one market essentially by introducing another, allowing each to operate efficiently on its own. Not only this, non-market solution are considered, Economists still use only market prices to evaluate them. No matter what policy instrument is chosen, the environmental goal of that policy must be identified. The efforts made here can certainly improve better understanding of development issues such as water resources management; common property resources management; technology; pollution and climate change; poverty, environmental and sustainable development across disciplinary boundaries.
ISBN : 9788183871952
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Pages : 648
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