10 May 2022

385

Positive Externalities and Public Goods

Format: APA

Academic level: College

Paper type: Assignment

Words: 309

Pages: 1

Downloads: 0

The earth is a public good: everyone has a right to be on earth and no one can exclude the other from being on the earth (Openstax, 2018). Its resources are therefore enjoyed by all. Being a public good, the exploitation of resources has been carried out to the extreme and this has led to the great problem of global warming. Global warming has far-reaching negative impacts that affect all. However, control of global warming is not the interest of all especially those countries that fear to be left behind in industrial progress and technological developments and those who desire to be always ahead (Openstax, 2018). The competition where no one is willing to lose but all are ready to exploit the recourse creates the commoner's tragedy and the free riders group. 

Current policies major on reducing industrialization, fossil fuel use, deforestation, economic sanctions among others ( Bornstein, 2018). These policies are not effective because the global leaders are seeking opinions from various scientist with preference to those with divergent opinions yet the problem is escalating. Bornstein (2018) gives a list of alternatives that can be applied to solve the problem of global warming. The solutions are worth considering since they are opinions outside the usual policies that have been tried repeatedly. As a result, the food industry is a major contributor to global warming: above electricity production industries. This is unheard of; if it can be prove, it is worth trying through the regulation of the industry and refrigerant management among other proposals he outlines (Bornstein, 2018)

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The world needs a practical approach to solving global warming that involves people at all levels not only organizations and governments. Adoption proposals by Bornstein can achieve this since everyone cares about their food and everyone is involved in the food industry as opposed to activities like clean nuclear reactors, clean energy, which involves few investors and governments. 

References

Bornstein, D. April 25, 2018. A Smorgasbord of Solutions for Global Warming. The New York Times . Jun.25, 2018. Retrieved from https://www.nytimes.com/2018/04/25/opinion/a-smorgasbord-of-solutions-for-global-warming.html

Openstax, (2018). “ Chapter 13: Positive Externalities and Public Goods ” and “ Chapter 12: Environmental Protection and Negative Externalities in Principles of economics . Retrieved from https://openstax.org/details/books/principles-economics

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StudyBounty. (2023, September 14). Positive Externalities and Public Goods.
https://studybounty.com/positive-externalities-and-public-goods-assignment

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