Greenhouse Gas Emission and the Invisible Elbow
Not what you're looking for?
How can emission of greenhouse gases be seen as part of the invisible elbow of market forces? What is the invisible elbow. How are emission of greenhouse gases a part of this?
Purchase this Solution
Solution Summary
This solution discuss greenhouse gases and the invisible elbow.
Solution Preview
What is Invisible Elbow?
First of all, the "invisible elbow" is a term used for operations in the ecoonomy that are having negative effects on the environment. The operation of the invisible elbow of market forces tends to cause environmental degradation in many areas. For example, the West German Timber industry loses $800 million each year from the effects of acid rain. Another example would be "how do you measure the cost of brain damage to a child? And what price do you place on the species made extinct in the rainforest?".
Nearly all environmental problems are 'externalities'. If consumers had to suffer all the pollution caused by the products they bought, they wouldn't buy them in such damaging quantities. It is precisely because costs are passed on to third parties that we let them occur. Environmental degradation is a genuine case of passing the muck.
There is an ...
Purchase this Solution
Free BrainMass Quizzes
Environmental Laws
The quiz tests some basic US environmental laws and policies.
"Tornadoes and Hurricanes" Vocabulary
Brief introduction to vocabulary terms related to the atmosphere. Definitions are related to conditions for tornadoes and hurricanes.
Structure of the Earth
Basic introduction to terms related to the structure of the Earth, including definitions and application of knowledge. This quiz focuses on the spheres.
Environment of the Earth
This quiz will focus on an introduction to basic Earth Science vocabulary. This info is important for an understanding of the principles involved with the study of the environment of the Earth.
Environmental Awareness 2020
This quiz is to test your knowledge and awareness on the current environmental issues that are posing a serious threat to the planet.