A: List the major ideas, concepts or key points- point by point
-Growth is thought to be the solution to economic problems
-Growth would work, however we begin to sacrifice natural capital with man-made capital
-If we do not realize that our resources are limited, we will suffer uneconomic growth and an ecological catastrophe
-There are a few ecological economists out there, but the mainstream ones consider sustainability to be a fad are committed to growth
-Since Earth has finite resources, everything must reach equilibrium
-Since reaching a sustainable economy requires a change of heart by many, most believe this would be impossible
-An ever growing economy is biophysically impossible
-Economists have discussed GDP, "Utility." throughput, natural capital, and total capital
-The main idea of sustainbility is shift from continuous growth to continuous development
-Utility refers to level of satisfaction, and cannot be measured by economists
-Throughput is the rate at which it is used by the economy-Lower rates are better both for sake of greater durability of goods
-Many mainstream economists believe that man-made capital is a better alternative than natural capital and say the two should both be maintained, this is called weak sustainability
-Believing natural capital should be maintained on its own is considered strong sustainability
-Cap-and-trade system: Limit placed on amount of throughput in conformity with the environment's ability to regenerate or absorb pollution
-Functioning markets cannot determine the sustainable scale, only the government can
-The transition to a sustainable economy would require many adjustments to economic policies
-Rate of production should equal the rate of depreciation
-In a sustainable economy, investment would be for replacement and qualitative improvements
-Taxing what we want less of (say pollution) is more feasible than taxing what we do want
-A sustainable economy would most likely not be employ all due to economic trends
-Income and happiness only extends to a certain point
-The sooner we start, the better
B: Summarize the AUTHOR’s main point or idea- at LEAST 1-2 paragraphs
In this article the author talks about economics. Growth is thought to be the solution to economic problems. Growth would work, however we begin to sacrifice natural capital with man-made capital. There are a few ecological economists out there, but the mainstream ones consider sustainability to be a fad are committed to growth. Cap-and-trade system: Limit placed on amount of throughput in conformity with the environment's ability to regenerate or absorb pollution. Functioning markets cannot determine the sustainable scale, only the government can. In a sustainable economy, investment would be for replacement and qualitative improvements. A sustainable economy would most likely not be employ all due to economic trends. Income and happiness only extends to a certain point. The sooner we start, the better.
C: Write a reaction paragraph to the article stating your own thoughts on the topic, using specific citations from the article to support your views
After reading this article I learned all there is to economics. I learned about the Cap-and-trade system where limits are placed on amount of throughput in conformity with the environment's ability to regenerate or absorb pollution. Functioning markets cannot determine the sustainable scale, only the government can. In a sustainable economy, investment would be for replacement and qualitative improvements. A sustainable economy would most likely not be employ all due to economic trends. Income and happiness only extends to a certain point. The sooner we start, the better. There are many things to economics and we have to understand all these things
-Growth is thought to be the solution to economic problems
-Growth would work, however we begin to sacrifice natural capital with man-made capital
-If we do not realize that our resources are limited, we will suffer uneconomic growth and an ecological catastrophe
-There are a few ecological economists out there, but the mainstream ones consider sustainability to be a fad are committed to growth
-Since Earth has finite resources, everything must reach equilibrium
-Since reaching a sustainable economy requires a change of heart by many, most believe this would be impossible
-An ever growing economy is biophysically impossible
-Economists have discussed GDP, "Utility." throughput, natural capital, and total capital
-The main idea of sustainbility is shift from continuous growth to continuous development
-Utility refers to level of satisfaction, and cannot be measured by economists
-Throughput is the rate at which it is used by the economy-Lower rates are better both for sake of greater durability of goods
-Many mainstream economists believe that man-made capital is a better alternative than natural capital and say the two should both be maintained, this is called weak sustainability
-Believing natural capital should be maintained on its own is considered strong sustainability
-Cap-and-trade system: Limit placed on amount of throughput in conformity with the environment's ability to regenerate or absorb pollution
-Functioning markets cannot determine the sustainable scale, only the government can
-The transition to a sustainable economy would require many adjustments to economic policies
-Rate of production should equal the rate of depreciation
-In a sustainable economy, investment would be for replacement and qualitative improvements
-Taxing what we want less of (say pollution) is more feasible than taxing what we do want
-A sustainable economy would most likely not be employ all due to economic trends
-Income and happiness only extends to a certain point
-The sooner we start, the better
B: Summarize the AUTHOR’s main point or idea- at LEAST 1-2 paragraphs
In this article the author talks about economics. Growth is thought to be the solution to economic problems. Growth would work, however we begin to sacrifice natural capital with man-made capital. There are a few ecological economists out there, but the mainstream ones consider sustainability to be a fad are committed to growth. Cap-and-trade system: Limit placed on amount of throughput in conformity with the environment's ability to regenerate or absorb pollution. Functioning markets cannot determine the sustainable scale, only the government can. In a sustainable economy, investment would be for replacement and qualitative improvements. A sustainable economy would most likely not be employ all due to economic trends. Income and happiness only extends to a certain point. The sooner we start, the better.
C: Write a reaction paragraph to the article stating your own thoughts on the topic, using specific citations from the article to support your views
After reading this article I learned all there is to economics. I learned about the Cap-and-trade system where limits are placed on amount of throughput in conformity with the environment's ability to regenerate or absorb pollution. Functioning markets cannot determine the sustainable scale, only the government can. In a sustainable economy, investment would be for replacement and qualitative improvements. A sustainable economy would most likely not be employ all due to economic trends. Income and happiness only extends to a certain point. The sooner we start, the better. There are many things to economics and we have to understand all these things