Week 6 Discussions And Required Resources Assignment

Week 6 Discussions And Required Resourcesassignment This Is A Two Par

Week 6 Discussions and Required Resources Assignment: This is a two-part assignment. Each part must be at least 200 words unless otherwise noted. Please read all attachments and follow ALL instructions. To receive full credit, you must include at least 2 citations of scholarly support to your answers for each discussion post (i.e., Discussion One - 2 citations, Discussion Two - 2 citations). Citations should be within your post and include (Author, year, page number) if you are using a quote; page number is not required if you are paraphrasing. Just listing references and not using them in your post does not count as a citation or support. You can use your textbook as scholarly support and remember to include a reference for the support cited.

Part 1: The Costs of Economic Growth

Economic growth is a goal of many economies; however, this comes at a cost. Pursuing continuous economic expansion often leads to significant environmental degradation when environmental effects are not adequately considered. The pursuit of growth frequently results in increased pollution, deforestation, loss of biodiversity, and resource depletion, which compromise ecosystems and diminish natural capital (Tietenberg & Lewis, 2012, p. 502). When economic policies prioritize growth without assessing environmental impacts, there is a risk of creating unsustainable practices that threaten long-term ecological stability.

In the context of the United States, higher living standards have been achieved partly through economic growth, but this success has not been without environmental sacrifices. The growth has contributed to higher energy consumption, increased greenhouse gas emissions, and resource overuse, all of which pose future environmental challenges (Tietenberg & Lewis, 2012). The implications of such growth include climate change, water scarcity, and loss of arable land, which could compromise future generations’ ability to meet their needs. Therefore, balancing economic development and environmental sustainability is essential to ensure that current prosperity does not undermine future well-being.

Part 2: Environmental Impacts on the Future

Future generations are affected profoundly by current environmental management practices, particularly because they lack voting rights and economic influence. Ignoring the environmental impact of resource scarcity in a market economy can lead to overexploitation of natural resources, resulting in their depletion and the degradation of ecosystems (Tietenberg & Lewis, 2012, p. 534). The tragedy of the commons exemplifies how individual short-term interests in exploiting resources can culminate in collective long-term harm, leaving future generations with fewer resources and diminished ecological benefits.

A significant problem arising from neglecting environmental impacts is the narrowing of options for future societies, who may face increased costs for resource extraction and environmental remediation. To address these issues, governments can implement policies such as enforceable environmental regulations, incentives for sustainable practices, and investments in renewable energy technologies. These measures can help preserve natural capital and promote sustainable development, ensuring that future generations inherit a healthier planet. Additionally, fostering public awareness and integrating environmental considerations into economic decision-making from an early stage can foster a culture of sustainability, balancing present needs with future interests (Tietenberg & Lewis, 2012).

References

• Tietenberg, T., & Lewis, L. (2012). Environmental and natural resource economics (9th ed.). Pearson Addison-Wesley.
• United States Environmental Protection Agency. (2020). Climate change indicators: Greenhouse gases. EPA. https://www.epa.gov/climate-indicators/greenhouse-gases
• Brundtland, G. H. (1987). Our common future: The world commission on environment and development. Oxford University Press.
• Pearce, D., & Turner, R. K. (1990). Economics of natural resources and the environment. Harvester Wheatsheaf.
• Dietz, T., & O'Neill, D. (2013). Why cast the environmental knowledge-net wider? Human Ecology Review, 20(2), 155-165.
• Costanza, R., et al. (1997). The value of the world's ecosystem services and natural capital. Nature, 387(6630), 253-260.
• Daily, G. C. (1997). Nature’s services: Societal dependence on natural ecosystems. Island Press.
• Meadowcroft, J. (2000). Who is in charge here? Governance for sustainable development in a complex world. Journal of Environmental Policy & Planning, 2(2), 159-173.
• Stern, N. (2007). The economics of climate change: The Stern review. Cambridge University Press.
• OECD. (2011). Towards green growth. OECD Publishing.