Read Sardar M.N. Islam, Mohan Munasinghe, Matthew Clarke, “Making long-term economic growth more sustainable: evaluating the costs and benefits” and “Finding a sustainable model of economic growth fit for the future”.
Post your answers to the following questions by 2/18.
- According to the reading, how can long-term economic growth be made more sustainable ?
- What are the costs and benefits associated with these steps? Post your responses in the box below.
1. Long term economic growth is unsustainable due to increasing environment damage. To keep long-term economic growth more sustainable we need more government supporting abatement programs, improving human welfare by increasing consumption of goods and services. Recognizing and eliminating unsustainable activities. building better cities with less pollution, building more jobs. We can relieve some resource constraints through being more efficient, putting in place closed loop systems so that old goods are recycled, and we provide more services than products. These are all important aspects of a sustainable economy.
2.
A) Social costs and benefits
*Typical costs include
The problems of urbanisation, worsening income distribution, commuting and ugly cities, *whereas Benefits include
Improved transport, communications,and standards of living.
B) environmental costs and benefits
*Costs include
pollution, and reduction of natural resources and bio-diversity
*benefits include
technological innovation and less damaging resource extraction, substitution away from scarce natural resources, and pollution abatement.
I agree with the government spending on programs to help our environment. Should we be able to find that perfect efficient program and find the right funding for it, we would be able to have one step closer to a better sustaining circle.
I don’t understand how increasing human welfare or government abatement programs would help. Increasing income does help the income with consumer spending that part is true. However the consumer would still behave the same way as before, this “way” isn’t sustainable. The consumer is likely to spend money (assuming the consumer is on welfare) on goods that appear likeable to them. Green products are more expensive even though they’re great for the environment.
What would be ways to eliminate unsustainable activities and what is the definition of unsustainable to you? Is it anything that creates a form of waste?
Yes. Remember, however that the concept of sustainability includes both economic and social sustainability
as well as environmental. To work toward sustaining large scale environmental improvements, society must
be able to also realize the goals of sustaining the well being of the overall population through adequate
income, access to health care and economic opportunity.
With the continuous deepening and development of industrialization, people’s living standards are improving day by day, and economic and cultural progress has been considerable. However, many forest resources have been deforested and exploited excessively, resulting in a significant reduction in vegetation area, endangering the extinction of rare animals and plants, and affecting climate and environmental changes. We should develop new processing technologies and means on the basis of new energy and materials, and get rid of the bondage of traditional energy and traditional raw materials. Therefore, we should vigorously develop new environmentally friendly materials. Enterprises should develop new environmental-friendly materials and technologies and make bold innovations and breakthroughs in the development model of the new economy so as to achieve a win-win situation of economic development and environmental protection at the same time and truly achieve sustainable development.These innovations are supported by a lot of money, but they are definitely worth it. Innovation needs a lot of money, but it’s definitely worth it for the future of human.
If we want to maintain long-term economic growth, the development of environmental protection materials and energy is a necessary process. The earth’s environment is the foundation of everything.
I agree with you. Human living standard has very tight relationship with economic and cultural progress, which means educating people with a sustainable living concept and the steps how to make our lives, economic, and environment to be more sustainable in order to achieve happiness is significant.
Ronghui,
I completely agree with you. There will need to be major investment to change our environmental and economic state to transition to a more sustainable economy for years to come. Enterprises should for sure be the leading force on that but I also believe that funding and the government needs to have their backs and assist in ways such as incentives that will increase their desires and motivate others to join the movement.
Ronghui,
I completely agree with you. There will need to be major investment to change our environmental and economic state to transition to a more sustainable economy for years to come. Enterprises should for sure be the leading force on that but I also believe that funding and the government needs to have their backs and assist in ways such as incentives that will increase their desires and motivate others to join the movement.
1) Some actions that are recommended to make economic resources more sustainable is to take resources process combining them buying/selling them, using them and throwing away what’s left; then moving on to repeat the cycle. This relies on new resources and a continued stream of support services provided by the natural word for example, clean water, fertile soil, a stable climate, pollination, clean air. Another action is a framework called sustainomics to make unsustainable activities be recognized and eliminated and seeks continuing improvements in the present quality of life. Actions can also be building better cities and jobs
2) There are two cost and benefits associated
A) Environmental cost and benefits. The cost include pollution and reduction of natural
resources and biodiversity while benefits include technological innovation and less
damaging resource extraction substitution away form scarce natural resource and
pollution abatement
B) Social Cost and Benefits. The cost include problem of urbanization, worsening income
distribution, commuting and ugly cities. The benefits include improved transport,
communications, and standard of living. If cost exceed benefits and growth becomes
unsustainable it would be desirable to reconstruct growth
I agree that by using the sustainomics framework, unsustainable activities can be recognized and eliminated, and improvements can be made for a better life. The Economic, social and environmental development plays a key role in making the economic growth more sustainable. And, the sustainability of economic growth is highly dependent on the social and environmental costs and benefits associated with it.
Long-term economic growth can be made more sustainable if the government taxes businesses who do not use sustainable practices when designing products. High taxes on these types of products gives them more of an incentive to use eco-friendly and sustainable resources.
Another way to maintain economic sustainability is to price resources accordingly so it reflects the scarcity of these sources. People who are wealthy and can afford to spend money on depleting resources, do not see the epidemic that resources are being utilized at a rate of 50% faster than the earth can replace them. If we price these resources accordingly, it will help people see that we are in a severe crisis.
the costs of these steps are that it will take a very long time to see results and that everyone has to be on board. If only a few people try to maintain earth’s resources, out of the billions of people in this world, it will defeat the purpose and will not create a global change. The benefits are that our resources will be able to replenish if we take the necessary steps.
1. According to the reading, keeping a long-term economic growth to be more sustainable needs the government, businesses, and individuals work together to develop an economic-ecological system that remains viable enough to support the needs and economic activities of current and future generations. This approach is base on lower intensity of resource use, leaving behind for current and future generation an undiminished stock of productive assets – manufactured, natural and social capital – that will enhance opportunities for improving their quality of life. Such as reducing the rate of non-renewable resource depletion; controlling the rate of harvesting renewable resource not exceed their regeneration rate; monitoring and controlling the pollution origin and materials; accelerating the environmental protection technologies progress; and etc. For instant, we can reduce over-package, over-production, over-order, and over-using resource. The goal is to seek the balance of efficiency and optimality between economic, social and environmental.
2. Form the social aspect, typical costs include the problems of urbanization, worsening income distribution, commuting and ugly cities. Its benefits include improved transport, communications, and standards of living. Form the environmental aspect, costs include pollution, and reduction of natural resources and bio-diversity. Its benefits include technological innovation and less damaging resource extraction, substitution away from scarce natural resources, and pollution abatement.
1. How can long-term economic growth be made more sustainable?
*Ways in which Long term economic growth can be made more sustainable.
– using the ‘sustainomics’ strategy, since many unsustainable activities can be recognized and eliminated.
Appropriate indicators of economic, social and environmental development play a key role.
Addressing important economic issues, including savings, investment, technical progress, substitutability of factors of production, and policies to make economic growth more sustainable- a basic element of the sustainomics framework.
Government supported abatement programs are needed to move towards sustainable development.
– By using a dynamic organizational growth model. The model considers both social and environmental costs and benefits of economic growth. The model finds optimal growth paths.
– By using economic equations of the Ecol-Opt-Growth 1 model.
– From the model- Social concerns for increasing environmental quality and higher capital base help to make economic growth more sustainable.
– Also The next important factors which was present in the model; the concerns for terminal capital and environmental quality.
2. What are the costs and benefits associated with these steps?
Sustainability is highly dependent on social and environmental costs and benefits.
Only Social costs and benefits which can be readily valued in monetary units are considered.
-Typical costs include the problems of urbanization, worsening income distribution, commuting and ugly cities,
-Whereas the benefits include improved transport, communications, and standard of living.
-The second set of costs and benefits are environmental. Environmental costs and benefits have more impact on sustainability.
These costs include pollution, and reduction of natural resources and bio-diversity.
-While benefits include technological innovation and less damaging resource extraction, substitution away from scarce natural resources, and pollution abatement.
Growth accompanied by reduced pollution and increased substitution away from natural resources is likely to be sustainable
Good. Indeed, sustainability must include an acknowledgement of the social and economic costs of problems
such as income inequality, the challenges of urbanization, etc.
1. From the article, I was able to find out that should we keep on going down this path of sparingly spending(wasting) our resources, our Earth can have its average temperature raise by 6C. This would invoke more than just a bunch of scientists grumbling about climate change, but pretty severe natural disasters. This cause is mostly caused by the rapid consumption of coal since that is one of our biggest factors of pollution. As of now, business leaders are currently developing ideas that can be taken to insure that resources are used more efficiently. Sadly, due to the nature of human beings, we will not take action until that unfortunate action happens to us. Currently, the only ones that can do anythings are the ones who aren’t suffering. They don’t understand the pain of not having clean water so they just squander not thinking about the future. One plan, would be to start reusing our old products so that they could be managed and be used for future plans. However, this would need everyone cooperation, since we are no longer talking about a closed community but a global effort. We would need the common folk, government, and the leaders of the world to have a combined cooperation to help slow down the consumption of our rapidly diminishing resources.
2. The cost of this plan would most likely be to get rid of human selfishness and overall laziness. Humans are overall selfish people and will not move their hand until that fateful ‘moment’ has happened to them. Unless we make everyone realize that we are the “cause” and that the future “effect” will be disastrous, no one will be willing to act. However, should we make everyone come to an epiphany and have our plan to fruition, the benefits would be advantageous to the future of our home. We would be able to replenish all the resources that we have spent by being able to recycle old products. One example would be to reuse old plastic bottles to be burned to fibers to be made into jackets. This is just the many genius ideas that our generation can act on now. The faster we make haste in our actions, the faster that our earth can heal and be self sustainable.
There are steps that can be taken to help make long-term economic growth more sustainable. The first is to make sure people understand the problem in the first place. The communication needs to improve in order to have people understand the current state of the world, the environment, and their limits. This way, people can make informed decisions and understand what needs to be done in order to move to a more sustainable world. Another thing is that business leaders could look for more opportunities to make their businesses sustainable, such as developing substitutes for scarce resources. The government can also step in to incentivize such practices through things like taxes.
There are also many costs and benefits. The former include urbanization problems, terrible income distribution, commuting, ugly cities, pollution, less natural resources, and lower biodiversity. The benefits include improved transportation, communications, standards of living, technology innovation, less damage to the environment when extract resources, scarce resources having substitutes, and lessening pollution.
Good suggestions. Indeed, government incentives can work. And, point out, the increasingly unequal distribution
is also a sustainability issue that needs to be addressed.
1. If man kind isn’t efficient or mindful of our carbon foot print, the Earth can have its average temperature raise by 6C. This would in turn cause severe natural disasters backed by data even by NASA. A way to make a more sustainable economic growth is funding research and incentive for not only companies but groups to create methods of more cleaner production and more efficient usages of our natural resources. Nations would need to cut down on military spending and tax companies that have unethical practices relating to the environment. With these ideas, long term growth could be a possibility.
2. The cost of this plan is creating this bridge of understanding. Humans are overall, self focused creatures. No one would be willing to act until we reach a certain point of danger or no return. Which is logical, not many people believe we’re even in a terrible situation. There are way too many factors and people for all to agree on this plan and idea as a whole. However, if everyone came together the situation could be solved in our lifetime if not the century.
1. Long -term economic growth can be made more sustainable by decreasing the damage on the environment. We need to find ways to help clean water, recycle and replace fossil fuels so that out resources aren’t completely used up.
2.Some benefits would be less air and sea pollution, a new type of renewable energy that have the same damaging effect as fossil fuels. Less damage to the ozone layer and having cleaner necessities so that not many people have to struggle without them.
1)
Long term economic growth can be made more sustainable by abandoning the older business models. These older models are built on outdated assumptions that the market will solve the issue on time, the wealthy will act, and that the resources are properly valued.
The writer suggests that scientists, governments, businesses, and NGOs
need to communicate where the scientific evidence projects we are and will be. This allows businesses to become aware of the consequences of following older models. Another proposition was for businesses to innovate the process or product so resources are used more efficiently. Critically governments should incentivize companies to innovate solutions (that save resources) and create mechanisms that hold companies
accountable.
2)
Changing main source of energy, that is shifting away from coal, will initially cost a lot of money and investment since the current infrastructure must be replaced. In return, we lessen the rate the average global temperatures is rising currently and thus preventing drastic environmental damage. Additionally, the writer names specific benefits such as maintaining adequate soil productivity and reducing ocean acidity.
The social cost and benefits are made clear through the scientific reading assigned. Costs include the several problems of urbanization (e.g disease, air pollution, crime), a worsened income distribution, and commuting. Benefits come from the transport available, communication systems present, and the better standards of living.
1. At our current economic and environmental state, the idea for long term sustainability is unrealistic. However, this doesn’t mean it is not possible to fix and change the fate of the Earth. Right now, as a population we are using the earth’s resources 50% faster than it can be regenerated, meaning we are using more resources than allowed. Today’s current business models are also poorly designed to promote environmental sustainability. It is based upon old and outdated practices that do not provide accurate information. For example, today’s business models are built on the idea of unlimited supply, and to measure the success in terms of the energy and materials used to create the final product. To end this vicious cycle, we have to create a closed cycle of renewable resources where old good are recycled and more services than products are offered. This can be achieved through the help of the government implementing abatement programs, offering business incentives to find and use different renewable resources, allocate and limit the amount of resources used, and to introduce new environmentally friendly systems that will benefit in the long-run, ie moving away from coal into a more energy efficient and renewable resource.
2. There are 2 different Costs and Benefits Analysis. However, in both cases, if the cost exceeds the benefits, and growth is unsustainable that means the system is no longer working and it is unsustainable. Ultimately that means the approach would have to be redesigned.
a. Social
i. Cost:
1. Problem of Urbanization
2. Worsening Income Distribution
3. Commuting
4. Ugly Cities
ii. Benefits:
1. Improved Transport
2. Communications
3. Standard of Living
b. Environmental
i. Cost:
1. Pollution
2. Reduction of Natural Resources and Biodiversity
ii. Benefit:
1. Technological Innovation
2. Less damaging Resource Extraction
3. Substitution Away from Scarce Natural Resource
4. Pollution Abatement
1) Long term economic growth can be more sustainable by limiting the amount of nonrenewable resources that is consumed. Finding the equilibrium of using non renewable resources and renewable resources can in turn contribute to the sustainability of the economy. Another way is to reduce the amount of pollution that is emitted, and this could be done through government enforcement. Also raising the efficiency in which stuff is produced and recycling can greatly contribute to the sustainability.
2) Some costs associated with these steps is that it will cost much more money and it will take some time to actually notice a difference. It will have to be a conjoined effort in order to actually work on the sustainability of the economy. Some benefits are that pollution will decrease significantly and resources that are rapidly depleting will be conserved for future generations.
Yes, the costs of some of these changes may be greater initially, but in the long-run the benefits
of adopting policies such as renewable resource use will likely be quite significant.