Valuation of environment, Public Economics

Valuation of Environment

Environment plays an important role in an economy. First, it contributes to production of output by supplying inputs such as raw materials (minerals, crude oil, coal, forest products, and many others), genetic resources, oxygen and water. Second, it regulates climatic conditions through changes in the levels of carbon dioxide, solar energy, moisture, soil fertility and erosion, etc. Thus, it provides avenues for many other activities such as tourism and recreation. Fourth, it is a carrier of life on earth and provides habitat for people. Fifth, it absorbs the wastage generated during production as well as consumption of goods as a sink for effluents and emissions.

Over time there has been depletion of natural resources and degradation of environment which have adversely affected quality of life. Although its intensity differs across geographical regions, and depends upon the level of economic development &d cultural factors, the problem of environmental degradation has been witnessed everywhere at all levels. A major reason behind environmental degradation is the fact that we presume many environmental actions to be freely available to us and thus assign zero economic value. A proper understanding of the value of environment would help in creation of awareness among stakeholders and allocation of adequate resources towards improvement in the quality of environment.

Posted Date: 12/18/2012 4:27:17 AM | Location : United States







Related Discussions:- Valuation of environment, Assignment Help, Ask Question on Valuation of environment, Get Answer, Expert's Help, Valuation of environment Discussions

Write discussion on Valuation of environment
Your posts are moderated
Related Questions
Question 1: Examine the essential elements of modern democratic societies. Question 2: State the various ways in which the participation of people is achieved in a demo

This variant of coordination problem seeks the answer to why some countries fail to grow when public and private rent seeking makes property rights insecure. One reason is that re


Horners method -  C program: Modify the program to implement the details for the recursive function called horners(double b, int n) that calculates Horner's method for a coeff

Flaws in Conventional System - Representation Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplore

Graphthe market for water park business, labeling the demand curve, the social-value curve, the market equilibrium level of output, and the efficient level of output. What is the p

Suppose a given demand curve for massage therapy services. In the context of giving massage therapy services, list, and explain in detail, 5 different variables that may cause an i

what is the difference between budget deficit and fiscal deficit

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

explain the stages and various coordination mechanisms involved in policy process?