Essay example for final essay
Essay example for final essay 312
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This 1 page Study Guide was uploaded by Megan Hawthorne on Tuesday October 4, 2016. The Study Guide belongs to 312 at Northern Arizona University taught by Raymond J Michalowski Jr in Fall 2016. Since its upload, it has received 5 views. For similar materials see Environmental Crime in Criminology and Criminal Justice at Northern Arizona University.
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Date Created: 10/04/16
Yes, I agree that having a free market society require thatpeople and businesses be allowed to exercise economic freedom toacquire and use whatever property they feel is in their economic benefit BUT with limitations to protect environmental sustainability. Many people see free markets and the environment as incompatible; for them, the very notion of free market environmentalism is an oxymoron. Even many “free marketers” find themselves on opposite sides of the fence when it comes to governmental regulation of the environment.Free market economies are likely to produce more pollution, which is bad for the environment. Command economies can make sure that the production processes that they chose are as environmentally friendly as possible. They should be able to make sure that the level of output is the socially optimal level of output. Governments can try to force firms into producing the socially optimal level of output through the use of taxes, but governments with a limited role will not be keen to use taxes. However, disadvantages are created from some of the advantages. Profit motive drives businesses, but can create dangers. Poor working conditions and unethical decisions can be made as entrepreneurs seek higher profits. Secondly, free markets can lead to market crashes as we saw in the great depression and the economic downturn in the early 2000's. Unemployment can lead to devastation of families. History has shown that free market economies perform substantially better than government-run economies if regulated with limitations. In reality though, there are no perfect free market economies.As you can see, the extent to which the government should intervene is a normative question and a difficult one at that. To sum up, governments need to get the balance right in the classic equity v. efficiency argument.
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